has surged to $0.29 โ its highest level since March โ after a powerful 57% rally over the past week. Although currently consolidating near $0.27, the token is still up an impressive 80% from its year-to-date low. ๐
๐ Network Activity on Fire
On-chain activity is booming: daily transactions have jumped 30% to 5.8 million, while stablecoin supply (mostly USDC) has soared 94% to $134 million. ๐ฅ
๐ก Real-World Utility Expands โ Analysts Stay Bullish
Tokenization is gaining real traction, with platforms like Lofty pushing Algorandโs real-world TVL past $89 million.
Crypto analyst Ali Martinez sees further upside, forecasting a 55% rally to $0.42 if ALGO confirms support at $0.258. ๐
๐ Chart Signals Align for a Breakout
ALGO continues to trade within a multi-month parallel channel โ a bullish setup. A confirmed double-bottom breakout above $0.2604 has strengthened the reversal pattern. โ
๐ Technical Indicators Flash Green
ALGO remains above its 50- and 100-day EMAs, while RSI and MACD suggest strong bullish momentum.
The next hurdle: break through the $0.32 resistance and aim for the 61.8% Fibonacci retracement at $0.3642. ๐ฏ
