Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Cryptoknowmics 2022-05-20 11:45:21

ALGO Technical Analysis: The Main Target Of The Rebound Is $0.68

The ALGO cryptocurrency is no different from others at first glance. The fall of the ALGO price from November 2021 is about 80%. This is the market average. However, not all cryptocurrencies show on the chart the interest of investors to keep the price. Looking at the weekly ALGO timeframe, it can be seen that trading volumes increased even before the final drain. During the weekly candle of 2 May, buyers were preparing to reverse the downward trend and closed the weekly candle with an “absorption” pattern. However, the Bitcoin market was set to fall sharply and the idea of ​​ALGO buyers failed. https://www.tradingview.com/x/i1dxAKkC/ As a result, the ALGO price tested an important range of $0.44 on anomalous volumes. Looking at the history of ALGO price movements, this range has prevented buyers from continuing the growth trend throughout 2020. Given the importance of this range, we expect at least a minimal rebound of the ALGO price to $0.68. This is the closest liquidity level from which sellers have every chance to continue the downward trend. Trading such a situation on the market is quite risky, so you should correctly calculate the amount of investment that can be risked. In case of breaking the $0.44 mark, the price will try to test the $0.22 mark. It is in this price range that you should buy ALGO. Technical Analysis Of ALGO On The Daily Timeframe Analyzing the price movement of ALGO on the daily timeframe, we are rea...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.