ALGORAND: Sleeping giant on the move
I'll be honest, I did not expect Algo out of all of them to start pumping like there's no tomorrow the moment BTC crashed. I love this little coin! But it's been really quiet for a long time.
Here's a simple set up on an hourly chart. I love using fibonacci channel when I see a clear trend up or down like this. That way I can see the levels it's less likely to go past, aka resistance and support levels, duh.
Yes, it is now way above the EMA 200, so I expect it to go down naturally, even without the help of any force majeure event (you never know these days).
I personally hope to at least see the price of $2.60-2.63, before the trend starts to weaken. But first it needs to get comfortable with $2.5. Then who knows, I've heard traders call $3.
What do you guys think?
Here's a simple set up on an hourly chart. I love using fibonacci channel when I see a clear trend up or down like this. That way I can see the levels it's less likely to go past, aka resistance and support levels, duh.
Yes, it is now way above the EMA 200, so I expect it to go down naturally, even without the help of any force majeure event (you never know these days).
I personally hope to at least see the price of $2.60-2.63, before the trend starts to weaken. But first it needs to get comfortable with $2.5. Then who knows, I've heard traders call $3.
What do you guys think?
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