My Algorand Bull Thesis
Bullish RSI Divergence: since June 23rd, about 70 days the RSI has been gaining strength since a mayor sell off, while the price continues to decline. Divergence also showing up on 4hr, 1hr.
In my humble analysis I would argue Algorand is severely oversold at this point.
New All Time Low: Price is currently 0.0971
Major Falling Wedge!
Down about -45% in last 100 days.
Down roughly -96% since start of bear market
200-Day Moving Average 0.17
Before The bear market started Algo was trading around 2 dollars, respectively. If crypto currency markets reach previous all time highs which is likely to happen one day, that's about 2,200% gain.
In my humble analysis I would argue Algorand is severely oversold at this point.
New All Time Low: Price is currently 0.0971
Major Falling Wedge!
Down about -45% in last 100 days.
Down roughly -96% since start of bear market
200-Day Moving Average 0.17
Before The bear market started Algo was trading around 2 dollars, respectively. If crypto currency markets reach previous all time highs which is likely to happen one day, that's about 2,200% gain.
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