Algorand

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/algo-price-analysis-is-algo-set-to-skyrocket-with-this-break/">ALGO Price Analysis: Is ALGO Set To Skyrocket With This Break?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Making a sharp recovery over the past few weeks, the ALGO price is signaling a trend reversal. Moreover, the uptrend reclaims many significant price levels that support the prolonged uptrend theory in Algorand prices.&nbsp; 
However, the current market price of Algorand is extremely far from its all-time high with the threat of a sudden supply inflow.&nbsp; 
Check out our <a href="https://coinpedia.org/price-prediction/algorand-algo-price-prediction/" rel="noopener noreferrer nofollow">ALGO price prediction for 2023-2030 </a>now to see what the future holds for Algorand! 
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The 17% recovery rally in ALGO price breaks the long-forming descending triangle in the daily chart. Moreover, the uptrend surpasses the 50-day EMA by a mark, but the prices must be sustained to confirm the breakout.&nbsp; 
The ALGO price is currently trading at $0.1012, slightly above the psychological mark of $0.10, with an intraday fall of 0.78%. Moreover, the 4.72% jump forming a bullish engulfing candle yesterday adds brownie points to the breakout theory. 
With the 50-day EMA breakout signaling a major trend reversal opportunity for Alogrand, the sideline buyers are ready to enter the game. Moreover, the recent spike breaks multiple previous spikes, which reflects the strong underlying bullish sentiments.&nbsp; 
Technical indicators: 
RSI indicator: The RSI line is moving higher above the halfway line, which resonates with the increasing bullish momentum. 
MACD indicator: With the MACD and signal lines rising higher, the indicator is projecting a bullish trend for ALGO price.&nbsp; 
<h2 class="wp-block-heading" id="h-will-algo-price-sustain-above-0-10">Will ALGO Price Sustain Above $0.10?</h2> 
The bulls can find tremendous uptrend momentum if ALGO price sustains above the $0.10 crucial mark. Moreover, the triangle breakout supports the uptrend possibility, increasing the chances of skyrocketing this week.&nbsp; 
If the prices sustain above $0.10, the uptrend can reach higher to the $0.14 mark.&nbsp; 
On the other hand, if the price fails to sustain, it could start a new downtrend. Traders can expect the Algorand price to find a new low of $0.081.

ALGO Price Analysis: Is ALGO Set To Skyrocket With This Break?

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