ALGO/USDT – Trade Setup (May 2025)
ALGO broke out of a Falling Wedge and is now in a Rising Wedge, typically a bearish reversal pattern. Price is currently near wedge support, offering a potential swing trade setup.
Trade Idea:
Entry: $0.21 (near wedge support)
Target 1: $0.25
Target 2: $0.28 (wedge resistance / SMA 200)
Stop-Loss: $0.19 (below key support)
Trend:
Short-term: Neutral
Medium-term: Bullish
Long-term: Bearish
RSI (50.49): Neutral
MACD: Mild bullish crossover
Note: Watch for breakdown below wedge support. If it breaks, price may drop to $0.18 or $0.15.