Algorand price is in its final decline towards $0.36 - Aliens: AI Crypto News & Markets Updates
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Algorand price is in its final decline towards $0.36

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FX Street

Tue, May 24, 2022

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Aliens TLDR

The ALGO price action's time-consuming market behavior appears to form a C wave ending-diagonal pattern, which means the downtrend will soon end.

However, the bulls should be careful not to buy Algorand price too early as the technicals indicate one more downswing could occur while maintaining the structure of the notorious reversal pattern.

Algorand price has shown a subtle ramping pattern on the volume profile, adding further bearish confluence .

Algorand price needs to breach and close above the $0.45 level to consider the completion of the ending diagonal pattern.

If this bullish event happens, consider the downtrend scenario over A $0.57 ALGO price could be the next bullish target, resulting in a 35% increase from the current Algorand price.

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

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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