ALGOUSDT is currently testing the weekly resistance level at the 0.23 USD area, which is an important level to watch as it has acted as resistance in the past. A breakout above this level could signal a bullish trend continuation, as it would indicate that buyers are willing to push the price higher despite the resistance. Traders may want to wait for a breakout above this level and a retest of this area as new support before considering a long position.According to Plancton's rules, if there is a breakout above the 0.23 USD area, it would suggest a new long position as it indicates a potential trend reversal to the upside. This rule suggests that traders may want to consider entering a long position in anticipation of a potential price increase.
Overall, the market sentiment for ALGOUSDT appears to be bullish, with the potential for a breakout above the weekly resistance level at the 0.23 USD area.
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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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.