ALGO has been in a clear downtrend for an extended period, but price is now compressing inside a falling wedge, a pattern that often precedes a bullish reversal.
Price is currently testing a major horizontal support zone aligned with previous macro lows. At the same time, price remains below the SMA 40 and EMA 150, confirming that higher-timeframe momentum is still bearish. As long as these moving averages are not reclaimed, caution is warranted.
🔍 Scenarios:
Bullish scenario:
– Breakout above the falling wedge
– Reclaim of the EMA 150
– First targets toward prior range highs
Bearish scenario:
– Loss of current support
– Acceleration to the downside toward lower liquidity zones
– Wedge failure → trend continuation
This is a key decision area: either a structural trend reversal, or one final flush before a potential bottom forms.
Price is currently testing a major horizontal support zone aligned with previous macro lows. At the same time, price remains below the SMA 40 and EMA 150, confirming that higher-timeframe momentum is still bearish. As long as these moving averages are not reclaimed, caution is warranted.
🔍 Scenarios:
Bullish scenario:
– Breakout above the falling wedge
– Reclaim of the EMA 150
– First targets toward prior range highs
Bearish scenario:
– Loss of current support
– Acceleration to the downside toward lower liquidity zones
– Wedge failure → trend continuation
This is a key decision area: either a structural trend reversal, or one final flush before a potential bottom forms.
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.