Algorand (ALGO)

Hello @Iota_Godfather 🤓💪
I really like using this question for a more comprehensive #Algo #Algorand Price Action Update.

When the price goes up or down, people always look for news or narratives to explain the price action. The fact is, random pumps also happen in a bear market.
👇
See Bitcoin's recent rally up to the 38% FIB level,
See XRP's recent random rally up to $1.60,
See TAO's recent rally up to $387
and many more....
The pump on Algo is also completely random and normal.

From a higher-level view, for example, we have been in Algo's accumulation zone for a long time. Also near the lower levels close to new all‑time lows. As we have seen in the past, we have repeatedly shown strong upward reactions at these levels.

Zooming in a bit more we can see that we have broken our trend line, something ETH and XRP have not yet done. However we cannot see a bullish sequence and are already in the first trend‑reversal zones. If we show strength here again, the next zones lie a bit higher between $0.25‑$0.20. In my opinion Algorand will give up these levels early enough.

Often people try to read too much into a price action. In my experience and knowledge, that is not necessary.

My takeaway:
Everything inside the gray zone is, in my opinion, a very good price to accumulate Algo.

Obviously not financial advice 😇✌️

$ALGO 50% in 7 days 😊 https://t.co/OxtOpPRpCc