Algorand Undergoing Bearish Pressure; 2025 On Sight (GREEN!)

7 hari yang lalu

ALGOUSDT (Algorand) has already undergone very strong bearish action, but the bears are not letting go, not yet.

On the 27th of September the chart produced an inverted hammer as a candlestick pattern, a very strong bearish signal. There was an attempt to push prices higher but sellers were ready to exit their positions and a bullish session ended up as bearish, that's the hammer.

Then again on the 21st of October another inverted hammer showed up with a big real body on the candle. A lower high, buyers were trying to produce a relief rally as some other pairs did but sellers were too many and a green session ended up red.

Two attempts at higher prices failed. Now we see how ALGOUSDT is trading at a critical support line, seeing the previous selling pressure, we know this level is more likely than not to break. If it breaks, when it breaks, prices are headed toward next support. There is the chance of a long-term higher low or even a lower low on a wick, this doesn't change the fact that this is the last drop.

2025 is now on sight. The market is going green. The end of the correction is close.

Algorand produced decent growth in late 2023/early 2024, 300%. This is nothing compared to the 2025 bull-market, we will see many times that number so get ready. The low prices that will come in the coming days will be an opportunity, the last chance to buy low before maximum growth.

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Namaste.