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 discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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