ALGO Price Analysis: Triangle Breakout Marks Grand Bullish in Algorand Price!

ALGO Price Analysis: Triangle Breakout Marks Grand Bullish in Algorand Price!

The post ALGO Price Analysis: Triangle Breakout Marks Grand Bullish in Algorand Price! appeared first on Coinpedia Fintech News
Despite a declining trend, ALGO prices are down 96.62% from the all-time high of $3.28. However, the remarkable buying pressure at the psychological mark of $0.10 led to solid bottom support. 
ALGO price action formed a descending triangle pattern with constant resistance from the 50-day EMA and the resistance trendline. However, the multiple bouncebacks from the $0.10 mark, with the bullish divergence in the RSI line, finally led to a bullish breakout. 
The recent 4.96% jump in ALGO prices following the morning star pattern at the $0.10 mark marks a bullish triangle pattern breakout. Moreover, the surge in the trading volume supporting the breakout candles projects a prolonged uptrend. 
The technical indicators maintain a bullish standpoint for the upcoming ALGO price trend. The daily RSI line maintains an uptrend with the bullish divergence and preps to c

Czytaj więcej

We współpracy z: https://coinpedia.org/price-analysis/algo-price-analysis-triangle-breakout-marks-grand-bullish-in-algorand-price/

Total
0
Shares
Dodaj komentarz

Podobne Wpisy