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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/algo-price-analysis-will-algorand-cross-above-200-day-ema/">ALGO Price Analysis: Will Algorand Cross Above 200-day EMA?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Suffering from poor performance and high supply in 2023, the ALGO price finally shines brighter and ranks amongst the Top Gainer’s chart. With a bullish turnaround as Bitcoin trades close to $35K and a new altcoin season around the corner, Algorand finally takes a bullish route.&nbsp;
From a falling channel breakout to rising above the $0.10 mark, the Algorand price trend promises a bull run. Moreover, being the brainchild project of Silvio Micali, an Italian computer scientist and professor at MIT, the <a href="https://coinpedia.org/price-prediction/algorand-algo-price-prediction/" rel="noopener noreferrer nofollow">ALGO price prediction</a> teases an optimistic revival.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/11/06134416/ALGOUSD_2023-11-06_12-36-58-1024x481.png" alt="" class="wp-image-242392" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/06134416/ALGOUSD_2023-11-06_12-36-58-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/06134416/ALGOUSD_2023-11-06_12-36-58-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/06134416/ALGOUSD_2023-11-06_12-36-58-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/06134416/ALGOUSD_2023-11-06_12-36-58-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/06134416/ALGOUSD_2023-11-06_12-36-58-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/06134416/ALGOUSD_2023-11-06_12-36-58.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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As the altcoins started buzzing with the Bitcoin rally, riding on the BTC Spot ETF catalyst, the ALGO price rose like a phoenix. With a double bottom reversal to cross the overhead resistance trendline, the Algorand chart displays a falling channel breakout.&nbsp;
The uptrending altcoin retests the broken $0.10 mark for a successful reversal and continues to approach the 200-day EMA. Further, the bullish reversal accounts for a price jump of almost 35% in the last 20 days.&nbsp;
Currently, the ALGO coin price trades at $0.1205 after a sharp overnight jump of 5.47% to form a bullish engulfing candle.&nbsp;&nbsp;
Technical indicators:
MACD indicator: The bullish continuation in the MACD and signal lines are on a bullish route in the positive territory with a growing gap. Moreover, the rising trend in the bullish histograms reflects a high-speed momentum in action.&nbsp;
EMA: The rising 50-day EMA showcases a high likelihood of a golden crossover with the 200-day EMA. Moreover, the rising average line may soon act as a dynamic support for the altcoin.&nbsp;
<h2 class="wp-block-heading" id="h-will-algo-price-jump-higher-above-the-200-day-ema">Will ALGO Price Jump Higher Above The 200-day EMA?</h2>
Defending the psychological mark of $0.10, the ALGO price trend showcases a stronger comeback for the altcoin. Further, the breakout rally gaining momentum as the market recovers improves the possibility of a prolonged uptrend above the 200-day EMA.&nbsp;
In case the Algorand prices sustain above the 200-day EMA, the uptrend can reach the $0.15 mark. On the flip side, a reversal from the 200-day EMA can retest the $0.10 mark.

ALGO Price Analysis: Will Algorand Cross Above 200-day EMA?

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