2024

Algorand

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<ul>
 <li>Algorand (ALGO) chart movement draws crypto trader attention.</li>
 <li>The assets price chart prints a possible breakout for the price of ALGO.</li>
 <li>Analyst expects a massive upward movement soon.</li>
</ul>
<p><a href="https://www.algorand.foundation/" target="_blank" rel="noopener noreferrer nofollow">Algorand (ALGO)</a> is another popular altcoin that comes with a strong community and supports strong projects. Crypto analyst keep an eye out for parabolic movements in the crypto space and ALGO just may make a massive move very soon.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/ALGO?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ALGO</a> Trendline Weakening, Expecting a Breakout <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/D6adSbHmXz" rel="noopener noreferrer nofollow">https://t.co/D6adSbHmXz</a><br><br>The trendline for ALGO is showing signs of weakening, indicating a potential breakout on the horizon. Keep an eye on market movements as we anticipate a bullish wave.<a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> <a href="https://twitter.com/hashtag/algo?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#algo</a> <a href="https://twitter.com/hashtag/ALGOUSDT?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ALGOUSDT</a> <a href="https://twitter.com/hashtag/web3?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#web3</a> <a href="https://twitter.com/hashtag/defi?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#defi</a> <a href="https://t.co/juLCDLuI2q" rel="noopener noreferrer nofollow">pic.twitter.com/juLCDLuI2q</a></p>— CryptoBreakout_trade (@breakout_expert) <a href="https://twitter.com/breakout_expert/status/1791712599241105552?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 18, 2024</a>
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<p>According to the chart above Algorand (ALGO) price has printed a very interesting pattern for its price. From what the trader and crypto analyst believes, the asset’s downward trendline has steadily weakened which means a potential breakout may be on the horizon.&nbsp;</p>
<p>If this downward trendline is broken through by ALGO traders then the potential breakout from the horizon could propel the price of ALGO towards a massive pump. The trader advises keeping a close eye on the asset or other market movements that could hasten the breakout for ALGO price.</p>
<p>While the community awaits a bullish wave for Algorand (ALGO), the asset continues its slow climb upwards. Presently, according to <a href="https://coinmarketcap.com/currencies/algorand/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>, the price of Algorand (ALGO) stands at $0.185. According to the analyst this parabolic leap could take ALGO price to a $0.28 trend top.</p>
<p>This is a ways away from its previously set all-time high (ATH) of $3.28. Currently, the total market cap for the asset is at $1,509,093,819 with a 24hr trading volume of $58,340,176. To note, ALGO has a total supply of 10,000,000,000.</p>
<p>The Algorand blockchain began its journey with the goal of being the <a href="https://cryptonewsland.com/ripple-joins-algorand-and-hedera-for-web3-protection/" target="_blank" rel="noopener noreferrer nofollow">greenest decentralized blockchain</a> with a borderless, digital economy built on an open source carbon-negative network. So far, many projects have been built on the L1 network, but ALGO price is yet to reflect this success in the ongoing bull cycle.&nbsp;</p>
<p>Thus, as ALGO holders eagerly await ALGO’s steady rise up the charts, it is yet too early to see how high the price of ALGO will go. Will it beat its previous ATH? Will it <a href="https://cryptonewsland.com/algorands-meteoric-rise-analyst-forecasts-surge-to-7/" target="_blank" rel="noopener noreferrer nofollow">hit $7 this cycle</a>, or will it surprise us and go beyond? We will see how the price action will unravel.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/algorand-algo-price-prediction-2024-when-will-algo-break-the-2-barrier/" rel="noopener noreferrer nofollow">Algorand (ALGO) Price Prediction 2024: When Will ALGO Break the $2 Barrier?</a></li>
 <li><a href="https://cryptonewsland.com/how-algos-stability-above-0-10-could-signal-a-soaring-path-to-0-20/" rel="noopener noreferrer nofollow">How ALGO’s Stability Above $0.10 Could Signal a Soaring Path to $0.20</a></li>
 <li><a href="https://cryptonewsland.com/algorand-algo-price-prediction/" rel="noopener noreferrer nofollow">Algorand (ALGO) Price Prediction 2023 to 2031: Will ALGO Price Hit $3 Soon?</a></li>
 <li><a href="https://cryptonewsland.com/how-algos-breakthrough-hints-at-a-potential-surge-to-0-105/" rel="noopener noreferrer nofollow">How ALGO’s Breakthrough Hints at a Potential Surge to $0.105</a></li>
 <li><a href="https://cryptonewsland.com/algorand-algo-price-analysis-aug-week-2-to-3/" rel="noopener noreferrer nofollow">Algorand (ALGO) Price Analysis Aug Week 2 to 3</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/algo-downtrend-pattern-weakens-chart-indicates-massive-surge-ahead-can-algo-price-hit-7-this-cycle/" rel="noopener noreferrer nofollow">ALGO Downtrend Pattern Weakens, Chart Indicates Massive Surge Ahead, Can ALGO Price Hit $7 This Cycle?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

ALGO Downtrend Pattern Weakens, Chart Indicates Massive Surge Ahead, Can ALGO Price Hit $7 This Cycle?

Crypto News Land

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