Algorand (ALGO) technical analysis:
Trade setup: After getting rejected at $0.15 resistance a few times in November, price has finally broken above it to signal continuation of uptrend with upside potential to $0.24. However, price is now very overbought (RSI ~ 80!), hence, near-term, we’re likely to see it pause here on some profit taking.
Pullbacks to $0.18 area could be swing trade entry opportunities. Previously, price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. (MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance: Nearest Support Zone is $0.15 (previous resistance), then $0.11. The nearest Resistance Zone is $0.18, which it broke, then $0.24.
Trade setup: After getting rejected at $0.15 resistance a few times in November, price has finally broken above it to signal continuation of uptrend with upside potential to $0.24. However, price is now very overbought (RSI ~ 80!), hence, near-term, we’re likely to see it pause here on some profit taking.
Pullbacks to $0.18 area could be swing trade entry opportunities. Previously, price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. (MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance: Nearest Support Zone is $0.15 (previous resistance), then $0.11. The nearest Resistance Zone is $0.18, which it broke, then $0.24.
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.