🚨 Technical Analysis for $ALGO Coin | Daily Timeframe
🔹 Current Price: 0.134 USDT
– The overall trend is bearish on the daily timeframe, forming lower highs and lower lows.
– The price recently rebounded from a strong demand zone around 0.11 – 0.10.
– The current rebound is considered an upward correction within the prevailing bearish trend.
– The daily RSI has started improving after exiting oversold levels → temporary bullish momentum.
🔼 Positive Scenario (Bullish):
If the price continues to hold above 0.13
🎯 0.15 – 0.17 – 0.20
🔽 Negative Scenario (Bearish):
If 0.11 is broken with a daily close
❌ 0.10 – 0.085 – 0.070
📌 Note: Any upward move without a clear structural break is considered a correction within a downtrend.
⚠️ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice.
