ALGO 1D Watch, read, comment!

10 Sep 2021

The last time we analyzed the Algousdt pair was back in February, but if you look at its performance and read the description...

you'll see quite a precise realization of the idea.

Today let's refresh our thoughts a little, after all, it's been half a year)
In recent days, the Algousd chart has recorded abnormally high trading volumes. Importantly, these volumes were recorded on the break-down of all the highs of 2021, which is a strong bullish signal. If the price does not break and fixation below $1.84-1.95 today/tomorrow, the buyers will confirm their strength and serious intentions to continue rising. The growth itself in such situation can continue, at least till $3.50 for the white scenario.

Or maybe such a rush around Algo and a burst of trading volumes was due to some strong news? Please, share your thoughts in the comments, you know we don't read the news much and don't base our analysis on it)

Because if it's a banal news dump, the price of Algorand token may go down even faster than it went up. A price fixation below $1.84 will show the green light for the sellers, who can easily bring the price of Algousdt down to $1.10 to begin with.

We considered many possible scenarios, but we pictured two most likely ones: white and blue! What's interesting, the end goal in both scenarios is around $8.60, though the buyers and sellers will have to overcome different routes and tests to reach the goal)
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