Coins in Short-Term Uptrend
Watch today’s market update video (10 mins) discussing improving short-term trends, create a couple of coins screens that can spot early trend reversals, and review trade setups for AAVE, ALGO and CRO.
We create a custom screener that looks for coins with Short-Term Uptrend and bullish momentum. Momentum is best captured with MACD and RSI indicators using the following definitions: 1) MACD Line crossed above MACD Signal Line, and 2) RSI crossed above 50 centerline.
Follow this video tutorial and add this power screen to your arsenal!
Signals Summary section offers many pre-built strategy blocks all ready for your use. You can use these pre-built filters as “building blocks” to start crafting your own custom technical scans. If you’re new to scanning and looking for an easy way to get started, this is certainly the show for you.
If you’re really interested in learning TA, we take a look at altFINS’ Trading Education plan that our users love so much.
Another easy way to find trading ideas is in our Curated Charts section, which can also help you learn basics of Technical Analysis (TA).
Here’s a TA for Algorand (ALGO):
Trade setup: Momentum (MACD) turned bullish. Price rebounded from $0.80 support and broke back above $1.00 resistance. Could swing up to $1.25 next. (set a price alert).
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum: is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
OBV (On Balance Volume): is rising, indicating that volume on Up days is greater than volume on Down days. Hence, demand (buyers) exceeds supply (sellers).
Support and Resistance: Nearest Support Zone 0.80. The nearest Resistance Zone is $1.00, which it broke, then $1.25.