Our view of the Algorand coin (ALGO) digital currency is trading now in a neutral trend Direction
( ALGO) is trading now at $ 0.5155
Which that means at a very critical area, called it whatever you like (area gate), & the volume here will play the key to incoming great bullish trend or confirm the bearish trend to find the stronger support area (yay) in order to jump higher range
We predicted before on the last (ALGO) analysis posts there is a preparation to hit & exceed the $ 0.5536 area sooner (DONE) then we assumed 2 scenarios as happening now exactly So we advise traders to keep an eye at the volume to ride the wave in the right time.
If you like to see previous articles about (ALGO)
Algorand Coin ( ALGO) Analysis >>10 Jan 2021
Otherwise, we never Forget to Trade wisely as we advise buyers to place a stop loss below $ 0.4672 areas, as breaking these prices leads to another down support area
The Chart Below
Target: Going to hit $ 0.7600
Algorand coin (ALGO) digital currency, if the price of $ 0.4672 is broken, it may target levels of $ 0.3991
Support & Resistance:
Support: $ 0.4672 - $ 0.3991 - $ 0.3157
Resistance: $ 0.6080 - $ 0.7600
The result depends on our personal Vision which could be right or wrong
We analyze the past to predict the future.