This shaping up might be a triangle! I cannot be sure yet considering that it's just beginning to shape and also because, it'd have a very tighten form compared with the prior one, however it might be. If I'm right this pattern will take until the end of november to form completely. Off course, in most cases, price don't fill the patterns completely so, a prossible breakout will occur before the end. Let's say that around 20th of November the breakout can happen.
However I expect a change in shape, probably an extension because this just look too short. If the chart will mimic prior one then price will take a dip to surge in 2022 (Jan to Feb). If ALGO will be positively influenced by altcoin season bullish wave I think a 40-50% increase is to be expected.
At the moment I don't feel like saying more because chart isn't showing too much. At least not much interesting. Anyway at daily and at 4h EMA 200 is under the price which is a good sign!
However I expect a change in shape, probably an extension because this just look too short. If the chart will mimic prior one then price will take a dip to surge in 2022 (Jan to Feb). If ALGO will be positively influenced by altcoin season bullish wave I think a 40-50% increase is to be expected.
At the moment I don't feel like saying more because chart isn't showing too much. At least not much interesting. Anyway at daily and at 4h EMA 200 is under the price which is a good sign!