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Algorand Prediction Today, November 28, 2022: ALGO/USD Is Consolidating

Algorand Prediction Today, November 28, 2022: ALGO/USD Is Consolidating
Algorand Prediction Today, November 28, 2022: ALGO/USD Is Consolidating

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ALGO/USD hasn’t been able to make extra gains after recovering its minimal losses. Consequently this indicating a lack of strengthat this point in time. Nevertheless, trading technical tools are giving some good signs. To that effect, let’s get a closer view.

ALGO Analysis Statistics Data:
Algorand value now: $0.2475
Algorand market cap: $ 1.74 billion
ALGO moving supply: 7.12 billion
Algorand Total Supply: 7.34 billion
ALGO Coinmarketcap ranking: #28

Important price Levels:
Resistance: $0.2475, $0.2500, $0.2540
Support: $0.2450, $0.2420, $0.2390

 

Algorand Prediction Today, November 28, 2022: ALGO/USD Is Consolidating

Algorand Prediction Today November 28, 2022: ALGO/USD Isn’t Making Extra Gains For Now

Price movement in the ALGO/USD isn’t making any significant profits. However, at this point, Algorand price action has only been able to record minimal losses, but has been able to quickly recover from those previous loss. This can be seen as the last price candlestick on this chart formed bullish contrary to the previous one. Furthermore, the MACD lines seem to be converging for a bullish crossover. When this is actualized, it will signify a gain in upside strength, then price may rise upwards more significantly.

Algorand Prediction Today, November 28, 2022: ALGO/USD Is Consolidating

Algorand Prediction Today November 28, 2022: ALGO/USD Price Movement Portrays Optimism

Moving to an ALGO/USD four-hour market, price activities appear to be performing much better. Here price candle has risen above the MA line. Consequently, this indicates that price may rise upward. Also, the Bollinger bands are now contracting while the price is rising above the MA line. As a result, we may witness a significant gain in price. Furthermore, the MACD lines are now gradually moving upwards towards the 0.00 level. And, with buyers still in control of the ongoing session, it is reasonable to prepare for an upward price gain towards $0.2550.

What traders desire in a market, is meaningful price movements in their favor. And so far, Algorand hasn’t offered this. However, here is another token with a better outlook called Impact Token. The IMPT presale is still live on the official website, and this has raised nearly $13.5 million. This project enables everyone to take part and help the planet in a nice and efficient way. Don’t be left out of this great offer. You can join their discord channel.

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