$ALGO A Green Candle Isn’t Proof—The Hold Above 0.1076 Is
The danger with $ALGO move is buying into the first burst and watching it fade straight back below 0.1076. breakout is only 0.9389% above 15M resistance, so buyers have not created much distance from the level yet. A quick rejection from the current area, especially with volume drying up, would make this look more like a short-lived spike than a clean continuation.
Still, setup has some weight behind it. Volume is running at 2.95x the recent average, and the latest candles show buyers pushing price through the ceiling rather than drifting sideways beneath it. The chart also shows a series of higher pushes from the recent lows, which gives the move a better foundation than a completely isolated jump.
A retest of 0.1076 would be reasonable. If that area holds and price can recover toward the 0.1086 entry, breakout would look more reliable than it does while extended. The trade map then gives TP1: 0.1100, TP2: 0.1114, and TP3: 0.1128. Losing 0.1072 would be the clearest sign that the move has failed.
The 4H chart adds a nearby test at 0.1104 resistance. That level sits just above the first target, so profit-taking may appear there. On the other hand, 0.08900 remains the broader support zone, leaving room for the larger trend to stay constructive even if this short-term push needs a pullback.
Avoid oversized exposure after the surge; risking around 1–2% of capital and taking some profit in stages keeps one failed retest from doing too much damage.
Trade $ALGO here with a plan, not panic.
#Crypto #Trading #Binance
DYOR
Follow me
dr_mt
The danger with $ALGO move is buying into the first burst and watching it fade straight back below 0.1076. breakout is only 0.9389% above 15M resistance, so buyers have not created much distance from the level yet. A quick rejection from the current area, especially with volume drying up, would make this look more like a short-lived spike than a clean continuation.
Still, setup has some weight behind it. Volume is running at 2.95x the recent average, and the latest candles show buyers pushing price through the ceiling rather than drifting sideways beneath it. The chart also shows a series of higher pushes from the recent lows, which gives the move a better foundation than a completely isolated jump.
A retest of 0.1076 would be reasonable. If that area holds and price can recover toward the 0.1086 entry, breakout would look more reliable than it does while extended. The trade map then gives TP1: 0.1100, TP2: 0.1114, and TP3: 0.1128. Losing 0.1072 would be the clearest sign that the move has failed.
The 4H chart adds a nearby test at 0.1104 resistance. That level sits just above the first target, so profit-taking may appear there. On the other hand, 0.08900 remains the broader support zone, leaving room for the larger trend to stay constructive even if this short-term push needs a pullback.
Avoid oversized exposure after the surge; risking around 1–2% of capital and taking some profit in stages keeps one failed retest from doing too much damage.
Trade $ALGO here with a plan, not panic.
#Crypto #Trading #Binance
DYOR
Follow me
dr_mt
