ALGORAND – ALTCOIN CHART ANALYSIS

Algorand (ALGO) remains in a major sideways phase. This range goes from 0.28 – 0.42 USD. We are currently trading at the lower end around $0.31.

On the 4H chart, the EMA ribbons are pushing us lower. Although we are holding up well in this area, the volume is not really increasing.

Therefore, we are more likely to once again pull fresh liquidity around $0.286. There lies the monthly support S1 and our last low, which was formed with a lot of volume.

If we can then form an impulsive and volume supported uptrend from here, we could move to the upper end of this range.

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