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.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.