๐ ALGO Breaks Out! Can It Soar to $0.50 Next? ๐ฅ
๐ Massive Momentum Pushes Algorand Higher
Algorand (ALGO) has exploded out of a months-long slump, skyrocketing from $0.18 to over $0.33 in under two weeks. It's now holding steady around $0.30, with traders eyeing the next big move.
๐ Breakout Confirmed on Short-Term Charts
ALGO broke out of a tight range under $0.30 on the 4-hour chart.
It hit a high of $0.335 before pulling back into a key support zone ($0.2849โ$0.2950).
If support holds, another rally toward $0.315 or higher could be imminent.
But โ ๏ธ a dip below $0.284 may cancel the bullish setup.
๐๏ธ Bigger Picture Shows Strong Bullish Reversal
Daily chart shows ALGO breaking two major descending trendlines (since February and June).
That breakout triggered an 80% rally in less than two weeks.
Current price is testing the $0.2985 breakout level.
If support holds or pulls back slightly to $0.249, bulls may retain control.
๐ก Sentiment Stays Bullish โ Eyes on $0.50 ๐ฐ
Traders are optimistic as long as ALGO holds above $0.284 or $0.249.
Crypto influencers like Crypto Chiefs and Next100XGEMS highlight ALGOโs strong setup.
A push to $0.50 is possible if overall crypto market momentum continues and Bitcoin stays stable.
๐ฎ Final Take: Watch This Zone Closely! ๐
The next few candles will be crucial โ a bounce could send ALGO flying toward $0.50.
But a breakdown below key support could stall momentum.
Stay sharp, traders โ ALGO may just be getting started! ๐๐