ALGOUSDT Daily Chart Analysis | Momentum Picks Up on Higher Timeframe
🔍 Let’s break down the latest ALGO/USDT daily chart, highlighting a shift in market structure and key bullish signals.
⏳ Daily Overview
A decisive breakout above the long-standing descending trendline has flipped the narrative for ALGOUSDT. Increased volume during the breakout points to robust bullish momentum, suggesting buyers are regaining control at this multi-month inflection point.
🔔 Flag Pattern & Chart Structure
- Bullish flag pattern is emerging after the recent breakout, as price consolidates in a tight range—a classic continuation formation.
- Former trendline resistance is now acting as support, confirming a notable shift on the higher timeframe.
📐 Fibonacci & Target Levels
- The 0.236 Fibonacci retracement at $0.2771 is providing immediate support, with price consolidating above this anchor level.
- Upside targets:
- First resistance at $0.3080, which aligns with horizontal supply and previous pivot highs.
- If the flag pattern resolves upward, the next Fibonacci extension points to $0.4900, marking a significant confluence and potential for further gains.
📊 Key Highlights
- Strong daily candle and surging volume confirm momentum shift.
- Watch the developing flag pattern for breakout confirmation.
- Major trendline break on the daily signals structural reversal.
- $0.3080 is the immediate target; $0.4900 is the extended objective from the flag/Fibonacci alignment.
🚨 Conclusion
ALGOUSDT is setting up a compelling bullish scenario—keep a close eye on price behavior at the flag and $0.3080 level. A breakout may trigger the next impulsive move toward $0.4900.
🔍 Let’s break down the latest ALGO/USDT daily chart, highlighting a shift in market structure and key bullish signals.
⏳ Daily Overview
A decisive breakout above the long-standing descending trendline has flipped the narrative for ALGOUSDT. Increased volume during the breakout points to robust bullish momentum, suggesting buyers are regaining control at this multi-month inflection point.
🔔 Flag Pattern & Chart Structure
- Bullish flag pattern is emerging after the recent breakout, as price consolidates in a tight range—a classic continuation formation.
- Former trendline resistance is now acting as support, confirming a notable shift on the higher timeframe.
📐 Fibonacci & Target Levels
- The 0.236 Fibonacci retracement at $0.2771 is providing immediate support, with price consolidating above this anchor level.
- Upside targets:
- First resistance at $0.3080, which aligns with horizontal supply and previous pivot highs.
- If the flag pattern resolves upward, the next Fibonacci extension points to $0.4900, marking a significant confluence and potential for further gains.
📊 Key Highlights
- Strong daily candle and surging volume confirm momentum shift.
- Watch the developing flag pattern for breakout confirmation.
- Major trendline break on the daily signals structural reversal.
- $0.3080 is the immediate target; $0.4900 is the extended objective from the flag/Fibonacci alignment.
🚨 Conclusion
ALGOUSDT is setting up a compelling bullish scenario—keep a close eye on price behavior at the flag and $0.3080 level. A breakout may trigger the next impulsive move toward $0.4900.
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.