ALGO is setting up for a potential breakout after months of bleed.The downtrend has held since early May, but now signs of compression, accumulation, and structural shift are emerging.
After bottoming near $0.153, ALGO formed a bullish structure just below the major trendline resistance and is holding firm above the key $0.17 support. This zone has acted as a battleground with buyers stepping in every time price dips into it.
We now see a clear accumulation range developing below resistance at $0.1874–$0.19. A breakout and retest of this level could confirm trend reversal and trigger a move toward $0.213 and higher.
Invalidation: Close below $0.17
Key Breakout Levels: $0.1874 – $0.19
Target Zones: $0.213 – $0.2535
ALGO has been ignored for months but the technicals are aligning. If this structure plays out, we could witness a mid-term trend flip fueled by the energy built up in this rang
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Register on WEEX and Blofin and trade with me: 👇
support.weex.com/en/register?vipCode=bamn
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Free TG Daily Futures Signals: 👉 t.me/CRYPTOMOJO_TA
support.weex.com/en/register?vipCode=bamn
partner.blofin.com/d/Cryptomojo
Free TG Daily Futures Signals: 👉 t.me/CRYPTOMOJO_TA
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.