ALGORAND (ALGO)...Formed a Falling Wedge
Finally price close to end the wedge :
From a technical point of view, when we encounter a descending wedge, it means that the uptrend is temporarily paused.
it seems to price sliding loses momentum and buyers step in to slow the rate of decline. Before the lines converge, price may breakout above the upper trend line.
MACD & RSI still neutral.
For now,consolidating price below the exponential moving average 200 and moves toward the growth soon
price decline to prior support marked with green dash line is possible.
From a technical point of view, when we encounter a descending wedge, it means that the uptrend is temporarily paused.
it seems to price sliding loses momentum and buyers step in to slow the rate of decline. Before the lines converge, price may breakout above the upper trend line.
MACD & RSI still neutral.
For now,consolidating price below the exponential moving average 200 and moves toward the growth soon
price decline to prior support marked with green dash line is possible.
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