JTechtrader

Algo analysis

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BINANCE:ALGOUSDT   Algorand / TetherUS
Hi everyone! Was looking at the Algorand coin today and noticed that it formed a triangle which it broke out of at the bottom. The size of the triangle more or less indicates how far down it may go. For me personally i think that we will see some price decline. Additionally we can see that the RSI is in the bearish zone. Its not oversold yet and not overbought, which doesn’t act as a strong buying moment. I think that Algorand will go back down to its next support level.
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