ALGO - Bullish Long Term, Bearish Short Term

22 เม.ย. 2021

Hey guys, just an update on the technical analysis of Algorand on the Daily Logarithmic Chart. As you can see we are still travelling in the ascending channel (known to break to the downside, more so than upside), and could also be forming a larger ABC correction to complete wave 4, however, if wave 4 has already been completed (back near the first drop as shown on chart), we can expect a bounce off the 200 day EMA to complete the smaller time frame ABC correction, this in turn will also form an ascending triangle (speculating that it will bounce off the 200day EMA) resulting in more bullish momentum. Overall we will see a bounce for the final run up to our resistance levels for a wave 5 leg bullish move, targets for wave 5 are shown by the blue horizontal lines. I believe we will see a $3 Algorand, however the max out point for a wave 5 move in this bullish trend up would see a $5 Algorand.

Just looking for some advice from those who have Algorand wallets and are seeking better staking values. I have recently been playing around with the wallet and transferred 5000 to test the waters. My thoughts are to compound the stakes earlier than what exchanges are offering to overall end up with more Algorand by years end. I have found a formula which calculates when to reinvest stakes back into wallet for optimum compounding which looks like this:

n = sqrt(1.0299 * k - 0.0829) * (r/0.1) * (-100f + 1.5)

I had placed a timer on Algorand and calculated the APY = r = 5.84% (9min interval stake which i then divided into minutes in a year and then divided by principal to get rate)
k = Principal = 5000
f = fees = 0.001

I then placed all the values into the formula and got;

n = 58.67 investment opportunities in a year which;

365/n = 6.22 days, which is best time to reinvest my rewards without losing out on fees

however, when comparing this to what exchanges are offering i am noticing a gap which says Algorand wallet returns less than exchanges. Can anyone help, or has the exchanges just inflated their return rates?? Is it better just to leave on exchanges? Any help would be much appreciated :)

I am going to wait a full day and recheck the stake interest to make sure it is 5.84%, because i have heard it should be more...

Anyway, hope you guys enjoyed the technical analysis. Thanks