Algorand Price Prediction 2025: Key Trends, Support Zones & Breakout Targets
Algorand (ALGO) has recently been giving signs that the coin has broken out of a descending wedge pattern, similar to the breakout observed in late 2024. This time, the wedge is notably narrower and steeper.
Due to the compressed nature of the price action, steeper and tighter descending wedges may lead to quicker, more directional price movements. The recent breakout has shown some initial follow-through. However, a continuation above $0.24 is required to pass the first test.
The structure of the chart below illustrates the latest descending wedge, suggesting that momentum may play out more quickly compared to the wider, less narrow wedge from before.
However, monitoring how the price interacts with the nearby resistance around $0.24 will tell traders more.
A failure to hold above the $0.24 level could result in a failed breakout of the descending wedge, while sustained strength may open the way for further testing of higher resistance zones.
