Algorand has been trading under a long term descending trendline and is now compressing near a critical support zone. Price action shows the formation of a potential inverse head and shoulders structure while still respecting the broader downtrend.
The neckline area aligns closely with the descending trendline, making this zone extremely important. A successful breakout above this trendline would invalidate the bearish structure and open the path for a stronger upside continuation toward higher resistance levels.
However, if price fails to break the neckline and loses the local support, a downside move toward the lower liquidity zone is possible to complete the wick fill. This would keep the broader bearish trend intact.
Momentum is tightening and volatility is likely to expand soon. The next move from this area should define the short to mid term direction.
The neckline area aligns closely with the descending trendline, making this zone extremely important. A successful breakout above this trendline would invalidate the bearish structure and open the path for a stronger upside continuation toward higher resistance levels.
However, if price fails to break the neckline and loses the local support, a downside move toward the lower liquidity zone is possible to complete the wick fill. This would keep the broader bearish trend intact.
Momentum is tightening and volatility is likely to expand soon. The next move from this area should define the short to mid term direction.
Market Structure • Price Action • Crypto Updates
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🔗 Telegram: t.me/Coach
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Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。