Altcoin TA: Algorand and Aave

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On the weekly chart, ALGO is testing a long-term area of support that we have not seen since the middle of last year.

The MFI has dipped significantly and is now just bordering oversold territory. The MACD is preparing to swing upwards. This could be a fairly bullish sign for ALGO at these prices (fundamental developments permitting of course).

Aave has been on a downtrend since the middle of last year and is testing ranges not seen since January of 2021. Currently, the MFI is in a strong uptrend and is trying to continue that uptrend. The MACD is also looking to swing upwards as well.