#ALGO, Can #Algorand push higher?

16. Apr. 2021

A quick look at #Algorand (#ALGOUSDT, #Binance, 4HR):

• Price broke the upper resistance of the triangle pattern on March 29.
  
• Since then, it broke the $1.47 resistance, flipping into support (S1). If S1 holds, price can try to break R1 and push the price higher.
  
• If S1 does not hold, price might go back down and try to rebound from the EMA200/S2.
  

If you want to read more about Algorand on CoinMarketCap, click here.

What do you think?

Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome.
But if you enjoy my chart, please like, comment or follow me. :)

Thank you and Happy trading!

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Needless to say, this is not financial advice!

17. Apr. 2021

Trade ist aktiv

T1 reached! Woo-hoo!
Now, enjoy the profit. I will try to recharge at $1.6305 and at $1.5960. Look at the chart below for details. If it goes well, great. If not, I will reinvest somewhere else.
Now, if R1 flips into support, we can look at attacking TP2!

18. Apr. 2021

Trade ist aktiv

Well, ALGO recovered about half of the recent drop. If the current level will hold, we can look at going up again.

23. Apr. 2021

Trade geschlossen: Stop wurde erreicht

We hit the Stop Loss. Since then, price is timidly trying to recover. Let's see how this plays out before our next analysis.