$ALGO #ALGO 📉
Direction: SHORT
Entry zone: 0.09046 to 0.09082
Stop loss: 0.09200
Target 1: 0.08883
Target 2: 0.08747
Algorand is trading near 0.090642 dollars, down 5.14 percent in 24 hours, inside a range of 0.089151 to 0.096061 dollars, and the recent closes show sellers in full control, 0.090376, then 0.090428, then 0.089609, then 0.089584, then 0.090642. 🔴 My reading is that ALGO is one of the weakest majors today because it fell more than twice as much as Bitcoin while the market is in fear, and a coin that weak usually keeps sliding until Bitcoin finds a floor. A short from the current zone, with a stop above 0.09200, targets 0.08883 first and then 0.08747 if sellers push toward the range low. A move above 0.09200 kills the idea without debate.
Futures trading is risky. Trade small, use a stop loss, and do your own research. This is my reading, not a guaranteed signal.
Does Algorand fall to 0.08883 first, or bounce above 0.09200? 🤔
Follow for more trades.
#Algorand #Crypto #FuturesTrading #TradingSignals
Direction: SHORT
Entry zone: 0.09046 to 0.09082
Stop loss: 0.09200
Target 1: 0.08883
Target 2: 0.08747
Algorand is trading near 0.090642 dollars, down 5.14 percent in 24 hours, inside a range of 0.089151 to 0.096061 dollars, and the recent closes show sellers in full control, 0.090376, then 0.090428, then 0.089609, then 0.089584, then 0.090642. 🔴 My reading is that ALGO is one of the weakest majors today because it fell more than twice as much as Bitcoin while the market is in fear, and a coin that weak usually keeps sliding until Bitcoin finds a floor. A short from the current zone, with a stop above 0.09200, targets 0.08883 first and then 0.08747 if sellers push toward the range low. A move above 0.09200 kills the idea without debate.
Futures trading is risky. Trade small, use a stop loss, and do your own research. This is my reading, not a guaranteed signal.
Does Algorand fall to 0.08883 first, or bounce above 0.09200? 🤔
Follow for more trades.
#Algorand #Crypto #FuturesTrading #TradingSignals
