Considering the Fibonacci levels from the November 2021 decline to the August 2023 low, the current movement suggests a test of the last high, which coincides with the 0.5 Fibo level.
This suggests that ALGORAND is likely to test resistance at $0.50 before seeking higher moves to $0.75 (0.618 Fibo). If it overcomes this level, the sky's the limit, and resistance should only be found above $2.00.
This suggests that ALGORAND is likely to test resistance at $0.50 before seeking higher moves to $0.75 (0.618 Fibo). If it overcomes this level, the sky's the limit, and resistance should only be found above $2.00.
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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.