ALGORAND ASCENDING TRIANGLE but..
**BINANCE: ALGOUSDT 2H HEIKIN ASHI**
ALGORAND at the 2 o'clock shows a clear resistance at the top.
With the ascending higher bottoms you could therefore say that an Ascending Triangle / upward triangle is formed (usually bullish).
You can clearly see that within the pattern the pressure on the support is greater than the pressure against the resistance... so something to look out for. Should the Bears make it here they will run into an old resistance around $1.85 and if it doesn't hold and the trend continues, a drop to $1.50 is also very possible. However, I do see some bullish divergence that could give the Bulls an impulse to move towards $2.49. look out for an above-average volume breakout.
Keep calm, trade safe and manage your risk.
(Disclaimer: This is not financial advice)
ALGORAND at the 2 o'clock shows a clear resistance at the top.
With the ascending higher bottoms you could therefore say that an Ascending Triangle / upward triangle is formed (usually bullish).
You can clearly see that within the pattern the pressure on the support is greater than the pressure against the resistance... so something to look out for. Should the Bears make it here they will run into an old resistance around $1.85 and if it doesn't hold and the trend continues, a drop to $1.50 is also very possible. However, I do see some bullish divergence that could give the Bulls an impulse to move towards $2.49. look out for an above-average volume breakout.
Keep calm, trade safe and manage your risk.
(Disclaimer: This is not financial advice)
Tims.Technische.Analyse by TIMTIBBO