ALGOOAAALLLL ⚽️

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

As per my last idea (attached in the Related Ideas below), you know that I am keeping an eye on tokens that might get more exposure during the World Cup 2022.

Here is a quick reminder:
FIFA has teamed up with blockchain technology company Algorand to agree a sponsorship and technical partnership deal.

The agreement means Algorand will become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution. As per the sponsorship agreement, Algorand will be a FIFA World Cup Qatar 2022™ Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor.

Source: Tweet attached on the chart

📉Technical Analysis:

ALGO lately rejected a weekly support zone 0.20 - 0.30 and since then it has been stuck inside a big range.

For the bulls to take over from a long-term perspective, we need a momentum daily candle close above the upper bound of the range (gray zone) around 0.440

Meanwhile, if ALGO rejected the upper gray zone and trades lower, we will be looking for short-term buy setups as it approaches the lower gray zone again.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich