If I were to be looking as a long term investor, I would definitely be stacking up on Algo and staking them during the bear market, as they show extremely strong fundamentals (strong team, strong technicals) and has a sustainable approach towards their development - something that is always beneficial and I constantly keep a look out for projects if they are paying attention to the impact around them.
Even though Algo is almost 90% down from it's ATH, looking at TA (4H), Algo seems to be in no-man's land. However there seems to be an interesting PA pattern: having huge gains followed by a deeper retracement. It is currently just resting above support, and I would like to see an eventual move up to the 0.236 where it seems to be a pretty strong resistance with multiple failed attempts to break since March 2023.
The PA looks good for scalping, and I may eventually focus on scalping the token while keeping a long term bag as the project looks to regain it's former glory. Show Less
