ALGOUSDT: Price reading for AlgoRand TetherUS today shows that prices are falling and are well above the support level (timeframe H4). However the price is not yet mature enough to continue to fall to the support level (0.3450 – 0.3510).
Technically, the price of ALGOUSDT broke the upward trend on February 25, which began as of February 20, 2020. This indicates that ALGOUSDT is seeking a support site that is low before deciding to return bullish or continue bearish.
We find that ALGOUSDT prices will find the price resistance level within the range (0.4330 – 0.4441) before making the price fall to the support level in the range (0.3450 – 0.3510). This is because the price of ALGOUSDT cannot break the small support level contained in Timeframe H4 at 0.3790.
The decrease from 0.4116 to 0.3687 (-10.42%) gave the buyer a chance to make a purchase and made a profit of (13.95%). Then once the price reaches that resistance level, it starts discounting the price by 20% from the price range (0.4330 – 0.4441) which is the price range (0.3450 – 0.3510).
In conclusion, price movements for ALGOUSDT are well planned and this makes it easier for Crypto (scalper) traders to make sales within the zone this week.
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An analyst that brings techniques from experience. Experience in the forex market since 2006. We see "price" in a different way.