Algorand, SafeMoon & Decentraland — Asian Wrap 04 Mar

Algorand price action is currently struggling to capitalize on last week’s rally. Despite last week’s candlestick closing in the red, it did print a bullish hammer reversal pattern after ALGO rallied more than 20% from the weekly lows. Downside risks remain likely but are limited in scope.


SafeMoon price is stuck inside the Ichimoku Cloud – the place where trading accounts go to die. The Cloud and the bear flag give both sides of the market opportunities. Directional bias is weighted more to the downside than the upside.


Decentraland price continues to maintain the majority of the gains made on Monday. Bulls continue to hope that enough momentum exists to convert MANA into a significant bullish breakout above the Ichimoku Cloud. However, the Cloud itself is constricting.






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