$ALGO Coiling for a Move – Breakout or Bull Trap?
ALGO/USDT is holding steady at $0.2866 after a modest bounce, showing tight consolidation just under key resistance. Price action hints at a potential breakout if bulls step up — but caution is advised as volume remains neutral.
Key Levels to Watch
• Resistance Zones:
• $0.2875 – Immediate cap
• $0.2895 – Intraday breakout trigger
• $0.2930 – Extension zone
• Support Zones:
• $0.2840 – Local support
• $0.2805 – Bullish structure base
• $0.2760 – Breakdown risk level
Trade Setup
Bullish Scenario:
• Entry: Above $0.2875
• Target 1: $0.2895
• Target 2: $0.2930
• Stop Loss: Below $0.2840
Bearish Scenario:
• Entry: Below $0.2840
• Target 1: $0.2805
• Target 2: $0.2760
• Stop Loss: Above $0.2875
ALGO is tightening into a squeeze, and the breakout range is getting narrower. A strong candle above $0.2875 could ignite momentum, while weakness below $0.2840 could spark a fade. Eyes on volume for confirmation!