Technical Analysis of ACH and AGLD, and Use Case of AI-TradeGenius

Today we have a brief analysis of two tokens: ACH and AGLD.

ACH

ACH had a strong pump in early 2023. After fluctuating for two months, ACH has fallen since May. Even so, ACH still retained some gains. Recently, the price has continued to fall with fluctuation. The low trading volume contributes to reduced volatility. ACH is neutral on a large scale.

Conclusion: Mostly falling. On the way down, the bulls did not strengthen. Bears were stronger than bulls. And the price has a distance to the low on Jun.10. Therefore, we believe that the price has a high probability of maintaining a fall before reaching the green line. We set the resistance level at 0.023 and the support level at 0.016. In the short term, the bears will strengthen near the red dotted line 0.019 if the price rises.

AI-TradeGenius: The indicator we use this time is Trend Sentinel Barrier. In the indicator area, we can see that there is a SELL signal on May.2, which means that the price movement turned into a bearish trend. Over the past few weeks, the price has approached the wavy area several times but has not formed a breakout. This is because the wavy areas provide resistance or support depending on the signal. Clearly, in the case of ACH, bearish power has increased.

ALGD

ALGD is different from other Tokens. It maintains a bullish trend for most time in 2023. Price pumped with high trading volume. But starting from July 21, the bears have strengthened, covering the previous gains of the rapid rise. Afterwards, prices remained fluctuating. ALGD turned neutral on a large scale based on the violent falling.

Conclusion: There is a high probability that the fall will not end. Although the gap between bulls and bears is not obvious, the high point is falling during the fluctuation (shown by the red dotted line). This is a bearish signal. We set the resistance level at 0.75 and the support level at 0.57.

AI-TradeGenius: The indicator we use this time is Trend Sentinel Barrier. We can see on the indicator chart that a Sell signal appeared this Tuesday. This means that the indicator defines the price movement into a bearish trend. The candle is in the middle of the wave area. This is an appropriate moment to take a short position. After that, whenever the price approaches the rail of the wavy area, it is a good opportunity to add the position.

We will continue to share the AI-TradeGenius indicators and their application scenarios in the brief analysis. If you have any questions, you can communicate with us.

Disclaimer:

The indicators discussed in this article are provided for informational purposes only. They should not be considered financial advice or guarantees of trading success.

Trading in the crypto markets involves inherent risks, and it is important to conduct thorough research and analysis before making any investment decisions. These indicators are tools that can assist in technical analysis and identifying potential trading opportunities, but they do not guarantee profits or protect against losses.

The interpretation and application of these indicators should be done with caution and in conjunction with other analysis methods. Market conditions can change rapidly, and individual trading strategies may yield different results. It is recommended to consult with a qualified financial professional or investment advisor before making any investment decisions.

Sypool and its affiliates do not accept any responsibility for losses or damages incurred as a result of using or relying on the information provided in this article. Users of these indicators are solely responsible for their own investment decisions and should carefully consider their financial situation, risk tolerance, and investment objectives. Past performance is not indicative of future results.