Our view of the Algorand coin (ALGO) digital currency is trading now in an uptrend Direction
We predicted before on the last (ALGO) analysis post that we have to see some of the correction areas to set the new Support & Resistance areas in preparation to hit & exceed the $ 0.5536 area sooner.
You can go back to read it >> Algorand Coin ( ALGO) Analysis>> 2 Jan 2021
( ALGO) is trading now at $ 0.4940
While the last best record was at $ 05301, then back to the area of $ 0.4099 to set correction of the trend between buyers & sellers which will lead to a higher range.
So let me assume that there are two scenarios:
The first is starting an aggressive bullish trend to double the price at any time.
The second is to go in a neutral trend to test the support areas and get confidence to hit higher also.
In any case, we never Forget to Trade wisely as we advise buyers to place a stop loss below $ 0.4355 areas, as breaking these prices leads to another down support area
As Shown
The Chart Below
Prediction:
Target: Going to hit $ 0.7600
Algorand coin (ALGO) digital currency, if the price of $ 0.4355 is broken, it may target levels of $ 0.3673
Support & Resistance:
Support: $ 0.4355 - $ 0.3673 - $ 0.3157
Resistance: $ 0.5301 - $ 0.7600
Important:
The result depends on our personal Vision which could be right or wrong
We analyze the past to predict the future.