Algorand (ALGO) Stays Bullish Treading Waters Above $0.60

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In Brief
  • ALGO has reclaimed the $0.51 level and validated it as support. There is resistance at $0.85.

  • The price is trading inside an ascending parallel channel.

  • ALGO is likely in the fourth wave of a five-wave formation.

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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 it, the trend is considered bullish. Algorand (ALGO) The ALGO price has been increasing since reaching a bottom of $0.093 in March. While the increase initially was gradual, the price created a massive bullish candlestick during the
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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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