ALGO Bounces at the $0.5 Support Level – Continuation Next?

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In Brief
  • There is support and resistance at $0.50 and $0.88

  • ALGO/USD is in the process of breaking out from a descending resistance line.

  • ALGO/BTC is facing resistance at 5100 satoshis.

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The Algorand (ALGO) price has broken out from a long-term resistance level and validated it as support afterward. As long as the price is trading above this newly created support area, the price move is considered bullish. Long-Term Levels The ALGO price has been increasing at an accelerated rate since the beginning of August. On August 12, the price broke out above the $0.5 area, which
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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