Algorand / TetherUSAggiornato ALGOUSDT is testing the ascending channel
ALGOUSDT is currently testing the ascending channel, with the price hovering around the 0.24$ level. where the market has the liquidity zone
A "liquidity zone" is a term used in trading to refer to a specific price range where there is an abundant amount of trading activity and therefore a higher volume of trades taking place.
The market is closely watching for any signs of a potential breakout from the 4 hour resistance line.
If the price does indeed break out and meet the criteria set by Plancton's rules,
it could provide a favorable entry point for a long position trade
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Follow the Shrimp 🦐
Keep in mind.
A "liquidity zone" is a term used in trading to refer to a specific price range where there is an abundant amount of trading activity and therefore a higher volume of trades taking place.
The market is closely watching for any signs of a potential breakout from the 4 hour resistance line.
If the price does indeed break out and meet the criteria set by Plancton's rules,
it could provide a favorable entry point for a long position trade
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Nota
The price is testing the demand zone right now.If the price grab new liquidity we can see a new bullish impulse from here
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