After a strong 28% move up from our last call, Algorand (ALGO) has pulled back into a key support zone, potentially setting up for another bullish wave. This type of retracement after a breakout is typical in trending markets and often offers high-probability re-entry points.
📌 Trade Setup:
Entry Zone: $0.15 – $0.16
Take Profit Targets:
→ Tier 1: $0.22 – $0.26
→ Tier 2: $0.28 – $0.33
Stop Loss: Just below $0.13
This setup offers a favorable risk-to-reward ratio, targeting a continuation of the prior move while protecting against deeper downside. Volume confirmation and market conditions should be monitored closely for added conviction.
BTCUSDT
Perp
95,649.9
-2.87%