fxstreet.com 12 Feb, 2021 13:45 am

ALGO uptrend reaches exhaustion as technicals scream sell

Algorand price saw a 100% rally in the last three weeks as it hit a local top of $1.30. Now, ALGO could potentially reverse as the Tom DeMark Sequenti

Algorand price faces a potential sell-off as the TD Sequential indicator flashed a sell-signal on the 12-hour chart.Algorand price saw a 100% rally in the last three weeks and recently hit a local top of $1.Algorand price eyes a reversal in trend Algorand price suggests exhaustion of the bullish momentum after the previous 12-hour candlestick developed as a potential reversal doji.If this were to happen, Algorand price might rise to $1.

Now, ALGO could potentially reverse as the Tom DeMark (TD) Sequential indicator presented a sell signal on the 12-hour chart.ALGO/USDT 12-hour chart While this does seem bearish for Algorand, investors should note that cryptocurrencies are highly volatile.

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