Coin name: ALGO
Spot call
Price: .1800
(Enter on entry price)
Currently, I can see that ALGO is following a channel and holding a trendline support, which indicates a possible upside move. However, since BTC is unstable right now, it’s better to wait.
On the BTC chart, a falling wedge bullish pattern is forming. At present, BTC is testing the upper resistance of the wedge. After touching this resistance, BTC may drop, and I expect a bounce from around $74,000. That’s when I plan to open a trade.
Also, according to the Coinglass liquidation heatmap, there is a significant amount of downside liquidity in ALGO. So, I’m waiting for a perfect entry before taking a position.
Target:
1) .2800
2).3100
3).3400
4).3500
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