$ALGO update. Macro factors and MMs taking crypto out to the woodshed. Cycles are over because political and institutional manipulation. This said, the handle is still holding up, for now.
$NIGHT for those who didn't see my previous post on needing to hold support, which apparently no one or no one cared enough to acknowledge. Here's the follow up. So far so good.
It's not that complicated. $ALGO continues to bound within the handle. I haven't edited this cup and handle overlay since I first created it. Of note, the RSI is looking to regain 50. As I've mentioned, if there's to be a sustained price advance, the RSI will have to stay > 50.
$NIGHT pulled back to support and appears to be holding for the time being, having tested a little buying liquidity with that extended up-wick. Needs to hold here.
I reiterate…I’m on the lookout for major business announcements coming from @Algorand @AlgoFoundation. You’ve been “cooking” for the past several years. $ALGO holders are ready to eat so serve it up!
$ALGO is back testing bottom handle support. As the chart shows, this has been the pattern for a while, unable to break channel resistance. All crypto is in a down funk at the moment; lowering tide…
Ok, @PeraAlgoWallet regularly alerts when “big buys” of $ALGO occur. From what I’ve seen, big buys constitute $5k, $7k, somewhere in that range. A bigger, big buy alert just posted. $35k worth folks.
$ALGO price just went below the mid-line of the handle channel. The good is the price is still in the channel, but if recent history holds true, the price will test the bottom-line support of the channel before it attempts to test the top-line resistance again.
