Algorand (ALGO) formed bullish Cypher for upto 48% move
Hi dear patrons, hope you are well and welcome to the new update on Algorand (ALGO) coin.
On a 2-day time frame chart, the price action of ALGO has formed a bullish Cypher pattern. There is also 50 simple moving average in the buying zone.
Buy and sell targets:
Buy between: $1.13 to $0.9991
Sell between: $1.23 to $1.48
Stop loss:
The maximum extent of potential reversal zone $0.9991 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 48%, and the loss possibility is 12%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On a 2-day time frame chart, the price action of ALGO has formed a bullish Cypher pattern. There is also 50 simple moving average in the buying zone.
Buy and sell targets:
Buy between: $1.13 to $0.9991
Sell between: $1.23 to $1.48
Stop loss:
The maximum extent of potential reversal zone $0.9991 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 48%, and the loss possibility is 12%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.