ALGO price action shows a bullish attempt to break above a falling channel pattern.
An inverted head and shoulder pattern forms with a neckline at $0.1050.
A bullish breakout could propel ALGO to $0.1175.
ALGO has been in a long-term downtrend, falling 35% in a month.
The recent reversal aims to exit the bearish trend and reclaim the 50-day EMA.
A morning star pattern ignites an early bullish reversal.
ALGO is currently trading at $0.1081, challenging the overhead trendline.
The 50-day EMA and the $0.10 psychological mark are crucial for a breakout.
RSI is on a bullish trajectory, approaching the overbought zone.
MACD and signal lines avoid a bearish crossover, indicating bullish momentum.
A failure to breakout could prolong the downtrend, with a new low of $0.081 possible.
The ongoing price action is critical for future Algorand price predictions.
An inverted head and shoulder pattern forms with a neckline at $0.1050.
A bullish breakout could propel ALGO to $0.1175.
ALGO has been in a long-term downtrend, falling 35% in a month.
The recent reversal aims to exit the bearish trend and reclaim the 50-day EMA.
A morning star pattern ignites an early bullish reversal.
ALGO is currently trading at $0.1081, challenging the overhead trendline.
The 50-day EMA and the $0.10 psychological mark are crucial for a breakout.
RSI is on a bullish trajectory, approaching the overbought zone.
MACD and signal lines avoid a bearish crossover, indicating bullish momentum.
A failure to breakout could prolong the downtrend, with a new low of $0.081 possible.
The ongoing price action is critical for future Algorand price predictions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.