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Algorand / TetherUS PERPETUAL CONTRACT

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ALGOUSDT.P trade ideas

$algo- darkest before dawn n all ..HOLA , buddy just went degen on this with leverage just a head's up imo we deviate below the yellow line take liquidity and then zoom up IF you are already in a position make sure you add on that div IF we get it otherwise will regret it for a fair bit at least it'll make a good story ! waiting on btc to make its move above 27600 then you have your confirmation of sorts to long with confidence . Cheers! ps:no brainer buy for any shitcoins you think will not get delisted
Long
by CompoundingGain
2
ALGO/USDT Technical Analysis: Bearish OutlookALGO/USDT Technical Analysis: Bearish Outlook The price of ALGO/USDT is currently trading at $0.113, which is a 97% decline from its all-time high of $3.31. The chart shows a clear bearish trend, with the price breaking down from the $1.33 level of the rising wedge. The price is now almost 90% down from the breakout level. The price is also trading in a falling wedge, and it has recently been hit hard by the news that the SEC is suing Ripple Labs. As a result, the price has declined by 40% in the past week. The overall outlook for ALGO/USDT is bearish. The price is likely to continue to decline and test the $0.05 level. This level could be a good accumulation zone, and a bottom could be formed here. Once the bottom is formed, the price could start a new bull run. The next bull run target for ALGO/USDT could be $1-$2. However, it is important to note that this is just a technical analysis, and the actual price movement could be different. It is always advisable to do your own research before investing in any cryptocurrency. Key Levels Support: $0.05 Resistance: $0.155, $0.28, $0.77, $1.75 Disclaimer This is not financial advice. The author is not a financial advisor and does not provide financial advice. The author is simply sharing their technical analysis of ALGO/USDT. It is important to do your own research before investing in any cryptocurrency.
Short
by CryptoPatel
2
ALGOUSDT is testing the 4h resistanceALGOUSDT is inside an observable ascending channel formation with the price action moving within this channel below the 4-hour resistance level. An ascending channel is a bullish chart pattern characterized by the formation of two parallel trendlines, where the lower trendline acts as a support level, and the upper trendline serves as a resistance level. This pattern suggests a gradual and sustained uptrend, as the price tends to make higher highs and higher lows within the channel. Traders following Plancton's rules, a set of guidelines for technical analysis, would closely monitor the ascending channel's support level. If the price were to break below the lower trendline and lose the support of the ascending channel, it could signal a potential trend reversal or a short-term correction. In such a scenario, adhering to Plancton's rules, traders may consider initiating new short positions. Shorting involves selling an asset in the hopes of buying it back at a lower price, thereby profiting from a decline in value. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
36