$ALGO 🟢LONG🟢 against the backdrop of an oil shock
Plan:
🔹 Entry: 0.0830 – 0.0835 (from EMA21)
🔹 SL: 0.0810
🔹 TP1: 0.0844
🔹 TP2: 0.0870
🔹 TP3: 0.0900
Risk 1% of the account balance. A trade for patient traders.
Technical picture:
Price $0.0842 is consolidating between EMA21=0.0835 and EMA50=0.0836, but below EMA200=0.0870 — short-term neutral, long-term bearish. RSI 55 — there’s room to move up. Resistance 0.0844, then 0.0870. Support 0.0816.
Macro context:
Oil has broken **$100**; the US has been bombing Iran for the 13th night—escalation risk is rising. This weighs on risk assets, including altcoins. The Fed may tighten policy—the probability of a hike increased from 12% to 40% over the week. Bitcoin fell below $65K—pulling altcoins down with it.
Conclusion: ALGO, as an old L1, is sensitive to macro conditions. Until BTC stabilizes above $65K, altcoins are at risk zone. But if **$0.0844** breaks, a push toward 0.0870 and 0.0900 is possible on short-covering.
🔥 What do you think—will ALGO hold above 0.083 amid the macro storm? Comment below!
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