Algorand is forming a large high and tight bull flag pattern, with a price target around $2.68 (on the low end) and $3.68 (on the high end.)
At the time of writing this Algo has seen a drop of 11%, and could drop to 15%-25% (leaving a floor around $1.50). There could be a couple of reasons for this drop in price: normal crypto volatility , liquidation from leverage, recent options expiring and/or price manipulation.
Additional Trading Journal Notes: Could Algorand see price peak at the dip around 5:55 A.M (09-20-2021) 🌕
*Bars Pattern copied from last dip, seen as blue bars.
*The Salt Conference ended in N.Y, which set-up Algorand for heavy adoption (and the overall crypto market.)
*Algorand Community Governance coming October 1st, 2021.
Other related published ideas linked below and alternative chart patterns linked below:
At the time of writing this Algo has seen a drop of 11%, and could drop to 15%-25% (leaving a floor around $1.50). There could be a couple of reasons for this drop in price: normal crypto volatility , liquidation from leverage, recent options expiring and/or price manipulation.
Additional Trading Journal Notes: Could Algorand see price peak at the dip around 5:55 A.M (09-20-2021) 🌕
*Bars Pattern copied from last dip, seen as blue bars.
*The Salt Conference ended in N.Y, which set-up Algorand for heavy adoption (and the overall crypto market.)
*Algorand Community Governance coming October 1st, 2021.
Other related published ideas linked below and alternative chart patterns linked below: