#ALGO (Algorand) is showing a descending triangle on the daily chart — and it’s getting interesting 👀
🔍 Breakdown of the pattern:
There’s a strong horizontal support zone — buyers are holding the line 💪
But at the same time, we’re seeing lower highs — sellers are pushing harder each round 😤
This squeeze usually ends with a breakout — and if it’s upward, #ALGO could turn bullish fast 📈
🟢 Key breakout targets if #ALGO breaks resistance:
$0.22: First level to watch and confirm breakout ✅
$0.26: Mid-range target
$0.32: Back to the last structure before breakdown
$0.40: Big psychological level — full breakout zone 🎯🚀
🧠 My thoughts:
Descending triangles often break down if volume fades, so we need volume to confirm any breakout. But right now, the support bounces suggest buyers are quietly stacking up. If BTC stays solid or pumps, #ALGO could ride the wave too.
📌 What I’m watching for:
A strong breakout candle above triangle + solid volume
Retest of the breakout acting as support
Market momentum — we need the broader trend on our side
💡 Long-term, ALGO’s push in tokenization and institution #DeFi is a solid narrative. Fundamentals are still strong 🔗
📈 $ALGO
: 0.1855 (+5.15%)
📈 $ALT
: 0.02769 (+1.28%)
#ALGO #Algorand #CryptoCharts 🟩📊🚀
