P_S_trade

Algorand ALGO price is far behind the cryptomarket. When growth?

WHITEBIT:ALGOUSDT   Algorand / Tether US
We are often asked to publish an idea for ALGOUSDT, you asked - we did.

We look at the chart and see that the ALGO price is still in a downward trend.
The only good news is that as of right now, ALGOUSD hasn't updated its lows in a month.
Now the ALGOUSDT price has moved into consolidation, so we can hope that the stage of accumulating long positions has begun, and this stage can last for many weeks.

As of now, we would definitely not risk buying ALGO with our own funds, as we do not see the strength of buyers and the "desire" for prices to rise.
The first ray of hope for ALGO holders may be a breakout of the trend line and a price fix above $0.15. In this case, there will be a chance for continued growth to $0.20 and $0.26

In the long term, we would like to see the ALGOUSDT price reach a strong mirror zone of $0.70-0.80, but we do not know when this will happen and what should provoke such a price increase.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more

🎁 -10% on ALL trading fees OKX
www.okx.com/join/10pstrade

🔥V-I-P cutt.ly/PwkLhT56

👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s

🔵Telegram t.me/pstrade_eng

Idea Berkaitan

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.