Algorand Price Update

in LeoFinance4 years ago

Algorand is one of my favorite coins, but it has taken to the woodshed with most other cryptos over the past 2 days. Algo was a tear hitting $1.80 when BTC corrected and now we are trading at $1.33 (YIKES)

Screen Shot 20210419 at 5.54.23 PM.png

The overall market correction pulled Algo out of the upper channel causing a retest of $1.25 which showed strong support. Other support levels fell quickly as the computers liquidated the markets.

Currently, algo is limping along and I'm worried the pain is not over.

Screen Shot 20210419 at 5.56.47 PM.png

The 1 day technicals are flashing a sell signal, but longer term we are at neutral or buy. I don't thin individual fundamentals matter at the moment; everything follows BTC.

Screen Shot 20210419 at 6.05.31 PM.png

My recommendation is to keep holding or buy the dips, but realize that these are crazy times so a bigger correction is never out of the question.

Posted Using LeoFinance Beta

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