Algorand / TetherUS
Long

ALGO: Approaching Resistance

164
Trade setup: Trends are mixed to down. Price has broken out of a Channel Down pattern but it’s now approaching a stiff resistance area: horizontal resistance of $0.20 and 200-day Moving Average. If it breaks above that, it would signal resumption of uptrend and upside potential to $0.25.

Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).

Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).

Support and Resistance: Nearest Support Zone is $0.15, then $0.12. The nearest Resistance Zone is $0.20, then $0.25 and $0.30.

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