ALGOUSDT (Algorand) - Coin of the Week
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust. The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token.
Technically, for this coin we see 2 major scenarios playing out right now. The first one is a retracement to the blue channel low and then a continuation to the upside and the second one is a break of the channel with a consolidation below and a move to the downside that will reach at least the first support area marked on the chart at 1.2 USDT.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, for this coin we see 2 major scenarios playing out right now. The first one is a retracement to the blue channel low and then a continuation to the upside and the second one is a break of the channel with a consolidation below and a move to the downside that will reach at least the first support area marked on the chart at 1.2 USDT.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
