Algorand price due for a 25% upswing as ALGO reveals a bullish setup - Aliens: AI Crypto News & Markets Updates

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Algorand price due for a 25% upswing as ALGO reveals a bullish setup

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FX Street

Fri, Jan 14, 2022

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Aliens TLDR

Algorand price dropped 10% over 24 hours and set up a triple bottom at $1.34.

Algorand price has seen a considerable drop over the past 24 hours and shows that this bearish outlook might be coming to an end.

Algorand price dropped 10% from $1.50 and tagged the $1.34 support level thrice over the past five days, creating a triple bottom setup.

ALGO/USDT 4-hour chart On the other hand, if Algorand price fails to hold around the $1.34 support level where the triple bottom setup is formed, there is a good chance ALGO will retrace to the weekly support level at $1.16.

If Algorand price produces a four-hour candlestick close below $1.16 it will create a lower low, invalidating the bullish thesis for ALGO.

The author will not be held responsible for information that is found at the end of links posted on this page.

The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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