Ollie7

ALGO reaction at 0.618 fib. Bounce possible

Long
BINANCE:ALGOUSDT   Algorand / TetherUS
Looks like ALGO could bounce here. Currently fighting to retake the 50EMA on the 4-Hour chart.

Strong resistance area overhead (green shaded zone). If bulls can break this then the 0.382 fib level and upper channel resistance will be key areas to watch.

Expecting a retracement to the 0.236 fibonacci level if the breakout is successful, before a correction.

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