Post-Retest Phase: ALGO is in a post-retest phase of a broken falling channel.
50-day EMA Support: ALGO price is sustaining above the 50-day EMA.
Target of $0.15: A jump to $0.15 is possible if the uptrend regains momentum.
96% Discount: Trading at a 96% discount from its all-time high of $3.28.
Bearish Control: Bears have been controlling the trend, breaking multiple support levels.
All-Time Low: Recently tested $0.081 as its all-time low.
Inverted Head and Shoulders: A bullish breakout pattern has been formed.
Retest Phase: Currently retesting the broken resistance trendline.
RSI Indicator: RSI is moving sideways above the halfway line, indicating potential bullish momentum.
EMA Alignment: 50-day EMA is acting as support, but EMAs maintain a bearish alignment.
Market-Wide Recovery: Rising anticipations for a market-wide recovery could positively affect ALGO.
Bearish Scenario: Failure to regain momentum could lead to a new low of $0.081.
50-day EMA Support: ALGO price is sustaining above the 50-day EMA.
Target of $0.15: A jump to $0.15 is possible if the uptrend regains momentum.
96% Discount: Trading at a 96% discount from its all-time high of $3.28.
Bearish Control: Bears have been controlling the trend, breaking multiple support levels.
All-Time Low: Recently tested $0.081 as its all-time low.
Inverted Head and Shoulders: A bullish breakout pattern has been formed.
Retest Phase: Currently retesting the broken resistance trendline.
RSI Indicator: RSI is moving sideways above the halfway line, indicating potential bullish momentum.
EMA Alignment: 50-day EMA is acting as support, but EMAs maintain a bearish alignment.
Market-Wide Recovery: Rising anticipations for a market-wide recovery could positively affect ALGO.
Bearish Scenario: Failure to regain momentum could lead to a new low of $0.081.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.