After the bloodbath last week things have settled down a bit. ALGO has some momentum now this could see ALGO test the $1.14 level in the short-term.
The RSI on the one min is back to neutral territory and we are setting up for test of $1.14.
ALGO was rejected at $1.14 on a prior bounce, making this level the target for the bulls should $1.01 be flipped to support which it's look like has happened. After $1.14, the next target would be the $1.26 then $1.50!
Trading volume and momentum can be observed to confirm an upward move for ALGO. Here, the trading volume would need to be above average when the level is flipped to support, and the hourly RSI can be expected to climb above 50 to denote bullish movement.
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