🔥 ALGO Channel: Break Out or Reversal

٥ أبريل ٢٠٢١

ALGO has been trading in this channel for almost six weeks now. With the recent major influx if bullish sentiment into the alt-coin market, I'm confident enough to argue that ALGO will soon break out of the channel and resume its parabolic movement.

Be aware that the top resistance of the channel is strong, so you might want to exit your position partially. In case of reversal, the $1.35 area would be a great place to buy in again.

Happy trading!