{"id":11931,"date":"2022-05-03T09:12:06","date_gmt":"2022-05-03T09:12:06","guid":{"rendered":"https:\/\/tradingshot.com\/?p=11931"},"modified":"2023-05-09T09:16:14","modified_gmt":"2023-05-09T09:16:14","slug":"algousd-on-a-strong-bullish-streak-but-not-a-buy-opportunity-yet","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/05\/03\/algousd-on-a-strong-bullish-streak-but-not-a-buy-opportunity-yet\/","title":{"rendered":"ALGOUSD on a strong bullish streak but not a Buy Opportunity yet"},"content":{"rendered":"

 <\/p>\n

Algorand (ALGOUSD) has completed a strong 3 day bullish streak coming close to the 1D MA50 (blue trend-line) again for the first time since the first week of April. Despite this green short-ter display, it is not a buy opportunity yet, as on the medium-term it remains within a Channel Down (dashed lines) and on the long-term it has broken below the Channel Up.<\/p>\n

A buy signal will be given, when the price breaks above not just the 1D MA50 but also the Lower Highs trend-line (top) of the Channel Down. This Channel can be seen better on the linear scale:<\/p>\n

\"snapshot\"<\/a><\/div>\n

On the long-term, which will be the safest trade, ALGO will turn into a confirmed buy once the price breaks not just above the 1D MA200 (orange trend-line) but also the 1W MACD makes a Bullish Cross. As you see, the last two MACD Bullish Crosses, have resulted in strong rallies within a 2-year time-frames.<\/p>\n

Until those medium and long-term conditions are met, Algorand can be moving lower and lower in accordance to the lower Fibonacci extensions shown on the chart.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/ALGOUSD\/WIas0umu-ALGOUSD-on-a-strong-bullish-streak-but-not-a-Buy-Opportunity-yet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  Algorand (ALGOUSD) has completed a strong 3 day bullish streak coming close to the 1D MA50 (blue trend-line) again for the first time since the first week of April. Despite this green short-ter display, it is not a buy opportunity yet, as on the medium-term it remains within a Channel Down (dashed lines) and<\/p>\n","protected":false},"author":611,"featured_media":11932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1636],"tags":[],"class_list":["post-11931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=11931"}],"version-history":[{"count":3,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11931\/revisions"}],"predecessor-version":[{"id":11935,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11931\/revisions\/11935"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/11932"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=11931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=11931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=11931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}