Table of Contents
Algo, Avax, and SUIs are showing strong technical setups and can get the benefits as well as reaching the major resistance levels. What to see for the week here.
Summary
- Elgo: The $ 0.26 neckline was rebuilt, one can target $ 0.34 or higher than $ 0.27.
- Awax: Support $ 27 neckline twice, $ 20 for a target for a possible breakout.
- Swai: MAS are stacking in order of fast, price of price to test $ 4.30 – $ 4.40 resistance.
Elgo
The price of Algorand (ALGO) has recently been broken by a large-scale dutom formation, with the neckline around $ 0.26 and the accumulation base is at $ 0.15- $ 0.16. After the breakout, Algo Prime reached the peak of $ 0.34, obtained about 90% of the measured trick target.
As expected after such a high speed, the price of the Elgo once again pulled back to a low of $ 0.22 before rebounding the neckline area. While the dip $ 0.26 underlines the neckline, quick recovery suggests that buyers can still define this level as a major axis. Bulls rebuild it with algo trading at $ 0.27 as press time. If today is a clean closer than $ 0.27, then after continuous speed, it acquires a high signal week or soon for $ 0.34 height formation to the Retests.
Awax
Unlike ALGO, which was actually a double bottom and then top out, the avalanche (AVX) formed a donable bottom, but it is a $ 27 neckline. After testing it twice and creating a mini dobe top, it returned to about $ 21, where 50 SMAs served as support and contained the fall.
The Avax Price is currently rebounding that is testing 20 EMA, there is still intake with a fast crossover between the two MAS. It seems to trekking once again to resume $ 27 neckline. To make this lead a reversed with a strong volume and follow-up-handle-holding acquisition, possibly with a week, because the avax value is only about 17% from that level.
Swai
The price of SUI (SUI) has been above 20-day and is currently trading at $ 3.83 with EMA 20 and SMA 50 rapid crossover. Additionally, the price has crossed the 7-day EMA on yesterday’s 8%+ candle, and which is currently 7 EMA below 20 EMA, it is soon ready to cross it, which will pile up this moving average in a rapid order.
This significantly reduces the risk of top formation of recession gap in bullish MA stacking, which firmly shifts the shift sanital in favor of the bulls. As a result, the possibility of testing of $ 4.30 – $ 4.40 resistance field has been invested, with a high next VK capacity.
