🔍 Analysis of $ALGO – The Strongly Evolving Algorand Project!
In the midst of ongoing market fluctuations, some projects stand out with a strong technological foundation and increasing investor interest, among them is $ALGO, the official currency of the Algorand platform that aims to provide a fast, secure, and scalable blockchain.
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📊 Interactive chart of $ALGO / USDT (from TradingView)
🚀 Quick technical analysis:
Near resistance: 0.185$
Nearest support: 0.158$
The price is moving within an ascending triangle pattern, and breaking the resistance may push the price towards 0.22$ as the first target.
💼 Actual trade on $ALGO:
Entry: 0.164$
First target: 0.185$
Stop loss: 0.152$
📈 My strategy in this trade:
I rely on technical analysis supported by trading volume and indicators such as RSI and MACD. The trade has been open for two days, and I am closely monitoring the price movement at resistance, with the intention of increasing the position in case of a strong breakout.
🛡️ Why $ALGO?
High-performance blockchain with high execution speed
Important partnerships with financial and governmental institutions
Focus on sustainability and "green blockchain"
Support from developers and an active global community
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💬 Do you think $ALGO has a chance to launch this month? Share your predictions or current trades with me!
