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<a href="https://captainaltcoin.com/how-high-can-algorand-algo-spike-this-cycle-3-possible-price-scenarios/" target="_blank" rel="noopener noreferrer nofollow">Algorand price is showing some signs of life again</a>. The price has been stuck for a while, but now the chart is flashing a setup that has traders paying attention.&nbsp;
The big question is simple: can ALGO bulls finally push through the heavy resistance sitting right above?
<h2 class="wp-block-heading" id="what-the-algo-chart-is-showing">What the ALGO Chart Is Showing</h2>
If you zoom in on the chart, Algorand price looks like it’s been carving out a rounded bottom. That’s usually a reversal signal, but there’s a catch.&nbsp;
Right now, the token is pressing up against both diagonal resistance from the downtrend and a horizontal wall of supply. It’s a tough area to crack, and that’s why a breakout here would matter so much.
The setup feels familiar. Earlier in the summer, ALGO price broke a very similar pattern and exploded higher. Traders are wondering if history might repeat itself.
Read Also: <a href="https://captainaltcoin.com/top-analyst-shares-realistic-jasmycoin-jasmy-price-prediction-for-the-coming-altseason/" target="_blank" rel="noopener noreferrer nofollow">Analyst Shares Realistic JasmyCoin (JASMY) Price Prediction For the Coming Altseason</a>
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 <figcaption>Image Source: <a href="https://x.com/AltCryptoGems/status/1965777280162037996" target="_blank" rel="noopener noreferrer nofollow">X/Sjuul</a>
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<h2 class="wp-block-heading" id="why-resistance-matters-here">Why Resistance Matters Here</h2>
Analyst Sjuul from AltCryptoGems summed it up perfectly: resistance deserves respect. Too many traders pile in early, only to get caught in a fakeout when the price fails to hold above the breakout zone.&nbsp;
That’s why the “ideal play,” as Sjuul puts it, is to wait for the breakout and then look for the retest. If ALGO flips resistance into support, that’s when the real move could begin.
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Moreover, the recent bounces and the rounded structure suggest ALGO price might be bottoming. It’s not racing higher yet, but it’s also not breaking down, which tells you sellers are losing some control. Volume will be the next big clue, if it spikes on a breakout, then bulls might finally have their shot.
<h2 class="wp-block-heading" id="algorand-price-short-term-outlook">Algorand Price Short-Term Outlook</h2>
So, what’s next? If ALGO clears this resistance and confirms the breakout, a run toward $0.22–$0.25 looks very possible.&nbsp;
On the flip side, if it gets rejected again, the token could slide back toward support around $0.16–$0.17 before trying again.
<a href="https://coinmarketcap.com/currencies/algorand/" target="_blank" rel="noopener noreferrer nofollow">For now, ALGO price is coiling up, and the setup looks promising.</a> The chart is giving the bulls a chance, the question is whether they’ll take it this time.
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The post <a href="https://captainaltcoin.com/is-this-the-breakout-pattern-that-finally-wakes-up-algorand-algo-price-heres-what-could-happen-next/" rel="noopener noreferrer nofollow">Is This the Breakout Pattern That Finally Wakes Up Algorand (ALGO) Price? Here’s What Could Happen Next</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.

Is This the Breakout Pattern That Finally Wakes Up Algorand (ALGO) Price? Here’s What Could Happen Next

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