This chart of ALGO/USDT presents one of the cleanest and most promising bottom formations in the entire altcoin market.
🔍 Technical Highlights
Clear Rounded Bottoms: ALGO has formed multiple rounded bottoms over a long accumulation period, signaling strong base building and exhaustion of sellers.
Descending Wedge Breakout: A breakout from the falling wedge pattern has occurred, further validating the bullish reversal.
RSI Divergence: On the RSI, we see a bullish divergence, suggesting momentum is shifting to the upside.
📈 Market Outlook
ALGO looks ready to begin a parabolic move, breaking out from months of consolidation.
This setup combines long-term support, bullish structure, and momentum reversal.
Based on this structure and previous behavior, we expect a powerful move over the next 1–2 months.
🎯 Targets
First target: $0.6773 — long-term trendline resistance.
Final target: $0.8138 — previous key resistance zone and measured move potential.
🛡️ Conclusion
This is a high-potential setup that stands out in the current altcoin landscape. The structure, volume compression, and technical signals strongly suggest ALGO is preparing for a major breakout. If the move plays out as expected, we could see the price reach both targets within the next 60 days.
One to watch very closely!
🔍 Technical Highlights
Clear Rounded Bottoms: ALGO has formed multiple rounded bottoms over a long accumulation period, signaling strong base building and exhaustion of sellers.
Descending Wedge Breakout: A breakout from the falling wedge pattern has occurred, further validating the bullish reversal.
RSI Divergence: On the RSI, we see a bullish divergence, suggesting momentum is shifting to the upside.
📈 Market Outlook
ALGO looks ready to begin a parabolic move, breaking out from months of consolidation.
This setup combines long-term support, bullish structure, and momentum reversal.
Based on this structure and previous behavior, we expect a powerful move over the next 1–2 months.
🎯 Targets
First target: $0.6773 — long-term trendline resistance.
Final target: $0.8138 — previous key resistance zone and measured move potential.
🛡️ Conclusion
This is a high-potential setup that stands out in the current altcoin landscape. The structure, volume compression, and technical signals strongly suggest ALGO is preparing for a major breakout. If the move plays out as expected, we could see the price reach both targets within the next 60 days.
One to watch very closely!
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.