$ALGO | 1H
After a bloody week, ALGO is showing early signs of recovery. Price touched the 0.1060 zone and bounced back with a green candle from below, and is now trading around 0.1097.
🔹 Scenario: The new week could open green, with a move toward the first resistance at 0.1219
🔹 After the breakout: retest of 0.1219 as support, then continuation toward 0.1270+
🔹 Support: 0.1060. If it breaks, the scenario is invalidated
This is a potential recovery after heavy selling, but confirmation only comes with a close above 0.1219.
⚠️ NFA. Do your own research and manage your risk.
#ALGOLAND #ALGOUSDT
#TechnicalAnalysis #Binance
After a bloody week, ALGO is showing early signs of recovery. Price touched the 0.1060 zone and bounced back with a green candle from below, and is now trading around 0.1097.
🔹 Scenario: The new week could open green, with a move toward the first resistance at 0.1219
🔹 After the breakout: retest of 0.1219 as support, then continuation toward 0.1270+
🔹 Support: 0.1060. If it breaks, the scenario is invalidated
This is a potential recovery after heavy selling, but confirmation only comes with a close above 0.1219.
⚠️ NFA. Do your own research and manage your risk.
#ALGOLAND #ALGOUSDT
#TechnicalAnalysis #Binance