Algorand Consolidation "Pointing" To An End??

4 Nis

Here we can see ALGOUSD is about finished forming a Continuation Pattern, the Bullish Wedge!

Price has made an impressive .50 increase since Trump taking office but has slipped into quite a steep Consolidation Phase where Price has made run for the 88.6% Retracement and seems to be filling out the rest of the "Point" of the Wedge!

Accompanying the Chart Pattern is a Decrease in Volume as well, signaling the tight Consolidation could be looking to make a break soon!

*With a True Breakout, we will want to be vigilant of multiple factors coming into play with Increase of Volume to Validate the Break of Pattern!

Once the Pattern is Confirmed and a Breakout Validated, based on the "Flagpole" of the Pattern, we could expect a potential extension of price to go behind the current Swing High of .6133 and up into the .70 area!

13 Nis

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With the RSI now above 50 with a Valid Breakout of the pattern, I will begin accumulating $ALGOUSD!

I believe we will begin to see price move very Bullish from here!