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ALGO/USDT Secondary trend. Wedge is a trend. 11 2023

Logarithm. Time frame 3 days. Linear price graph for clarity of this beauty.

The entire secondary trend is a falling wedge, a decline in price from the highs to date for 718 days (24 months, or almost 2 years). Volatility has decreased to a minimum, the price is conditionally squeezed, in the near future there may be an excess of supply/demand and a breakthrough of this long-term formation will occur. A pump impulse for a breakthrough due to super “dead faith” and rather low liquidity (price slippage) can be significant.

Decline from the low (liquidity) -96.66%.
We are in the zone of so-called capitulation (on the cryptocurrency itself).

Also, the chart shows conditionally maximum average (from the average price) potential targets of market phases:

1) “participation” (development of the bullish trend to the reset zone, i.e. distribution).
2) Distribution.

Unfair market competition by large market participants.

Prices now, it is about 0.1$, which is the price of “large capital” that “invested” in this crypto project. But, they sold out long ago on the first listings..... After all, the crowd was “sold” at the ICO at an average of about 2.5$ per coin, or even more expensive by the method of divorce with the Dutch auction. That is roughly speaking it is +25X (+2500%).

Dutch auction (in the classical sense) is a type of bidding, at the beginning of which the highest price for the lot is announced, which gradually decreases; the participant who was the first to stop the price decrease becomes the winner.

Bullish cycle 2020-2021.

Then after a dump to the 2020-2021 set zone (0.25$ average) in the bull cycle managed to pump and form a distribution (reset) zone of more than +1000%. From that reset zone and formed this truly huge downward wedge, just like on EOS.

So, this cryptocurrency "changed speculative hands" many times (huge dump/dump volatility). Anyone could make money, but not the “hamster” level. Perhaps there will be one last run of significant price pumping towards the end of 2024 -2025.

Candlestick chart of the wedge zone for comparison.

Local trend.

ALGO/USDT Local trend. Wedge breakout zone. 5 11 2023

The main trend. The entire trading history. Accumulation/distribution zones. Time frame 1 week.

ALGO/USDT Major trend. Cycles. 07 2023

注释

Breakout of 0.12 accumulation zone. ALGO accompaniment news has been released Algorand has received an EMI (electronic money institutions) license from the Dutch Central Bank and is preparing to launch the EURD

Dutch blockchain company Quantoz plans to launch a digital euro based on ALGO

I think there will be a long speculative play after coming off a huge wedge (trend break, already)... under the general market cycle. volatility

注释

trading situation for 20 11 2023. Important local resistance level (clamp) 0.1516. Its breakthrough is an impulse and continuation of the trend development. We removed long stops after the exit from the sideways "as the book writes" -12% when the price fixes above the previous resistance of the accumulation zone.

注释

交易结束：到达目标

first target level reached 0.2144, which is +120% from the breakout (0.1 level is marked in green). This is not the end of the game, but quite strong resistance.

交易开始

交易结束：到达目标

first medium-term target closed to the $0.25 level +150%

交易开始

注释

after the reversal, there is such fractality in trend development, only on a smaller scale (time is different).

交易结束：到达目标

Reaching 03/13/2024 level 0.3086 and reversing from there. Today 03/19/2024 Local work and its key reversal zones, as well as percentages of them, are shown.

交易开始

Remember the meaning of fractality above. These are all the lower values after the trend reversal (break)

注释

交易开始

27 03 2024 local reversal zone

注释

The price from the reversal zone of 0.2144 has risen to the resistance of the local downtrend (purple). Local reversal zone. At the moment quite short #stopLoss. Almost everywhere similar on alts trading situations. There will probably be "fireworks".

🟢 If breakout, local potential to the meridian (blue) of an expanding trending pump triangle.

🔴🟢 If not, - decline to the former reversal zone and already strong

交易结束：到达目标

price from the reversal zone of 0.285 level decreased to 0.2144 level and broke it. That is, we went according to the second scenario on the retest of the breakdown zone of 0.1516 (squeeze conditionally to these values). If we hold this zone, i.e. support at 0.1644, there will be a strong price growth. If not, consolidation near this zone and still price growth.

交易开始

注释

24 04 2024 Price is being pulled up to wedge resistance. Important moment. Either an impulse - pump as on HBAR or a pullback to the lower zone of the wedge. It is quite possible that under the promotion of the "American blockchain for the people", the European blockchain will show the same impulse dynamics.

注释

expected impulse-buyout to break +37% to the resistance zone 0.285 (+60% of stop-loss squeeze, i.e. liquidity collection). Rollback already to the mirror support level. High probability of continuation of movement after the retest.

交易开始

07 09 2024

Reached the support zone, thereby forming a potential double bottom, or "dragon" pattern, if we enter the capitulation zone. Also, this decline further forms a descending wedge. The price is currently in it. Key reversal zones and logic are shown.

Candidate for more than 1000%. After exiting this sideways trend. Gain and do not be afraid. Large volumes have been gaining for a long time, as on FIL (there will be a larger % due to liquidity and manipulation with the US government "paired" with HBAR speculative news scam). But, on ALGO % are also significant...

注释

16 11 2024

+80% from the breakout of the wedge resistance. Note how beautifully and by what a large percentage (-23%) the long stops of the "obedient traders" were removed. Never set a stop loss "as the book says" in accumulation zones. Always the same, which is logical. The price is still moving in the zone of a large sideways trend, the accumulation zone, which is slightly above the main accumulation zone now at the moment.

注释

30 11 2024

From the wedge breakout and from the reversal level of 0.1203 (15) more than +250% to the specified zone of the level of 0.4239 (18). The price on the pump was pulled up to the most important dynamic resistance by this impulse (now a full daily candle in the moment) (shown by a thick red line).