ALGO price action is showing a triangle pattern during its overall downtrend.
Algorand's price has bounced back within the triangle, hinting at a potential breakout.
A breakout rally could push the ALGO price to $0.10.
ALGO is trading at a significant 98% drop from its all-time high of 3.77.
ALGO price trend is forming a descending triangle pattern.
Algorand's coin price has jumped 6.11%, increasing the chances of a breakout.
ALGO coin is currently priced at $0.0935.
A triple white soldier pattern in the daily chart suggests a V-shaped reversal.
For ALGO to reach $0.10, it must break the resistance trendline.
If rejected at the resistance trendline, ALGO could find a new bottom at $0.081.
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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.