ALGO STANDS STRONG

16 нояб. 2021 г.

Algorand was showing the strongest type of structure prior to the sell-off in crypto throughout todays Asian-Session.

Considering this neutral pennant has held, and that price does not fall below 1st support at 1.70 USD then ALGO looks clear to re-test the top of the wedge around 2.30USD, 2nd Resistance.

Bitcoin must hold above 60K USD for this trade idea to stay valid, should BTC/USD fail to do so then new lows are inbound on ALGO around 1.55USD

1ST SUPPORT: 1.70 USD
2ND SUPPORT: 1.55 USD

1ST RESISTANCE 2.00 USD
2ND RESISTANCE 2.30 USD

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