$ALGO
🔍 Market Overview & Context
Price: ~$0.260 — up $289M today)
Technical Setup:
Double-bottom breakout on daily chart with neckline cleared at $0.258—bullish signal
Price has risen above 50‑ and 100‑day EMAs; however, still trading below the 200‑day (~$0.25), which now acts as key resistance
Fundamentals:
Staking launched on Binance, Crypto.com, and Crypto.com platforms; over 1.95 B ALGO staked (~25% of supply), reducing float
Wormhole NTT integration enhances cross‑chain utility
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📈 Trade Strategy – Today
🟢 Bullish (Long) Setup
1. Pullback Entry
Zone: $0.250–$0.255 (near 100‑day EMA & double-bottom support)
Targets:
T1: $0.270–$0.275 (daily resistance/neckline retest)
T2: $0.285–$0.290 (next swing highs)
Stop-Loss: < $0.245
2. Breakout Entry
Trigger: Clear daily close above $0.270–$0.272 with volume
Targets:
T1: $0.290
T2: $0.310–$0.320 (momentum zone)
Stop-Loss: < $0.265