Algorand, like several other Altcoins, are at the tail end of a descending triangle pattern, making buzz for an Alt Season. But will Algorand share the spotlight?
Past patterns have led to lackluster results, crawling back to trend slower than other coins after the tumble this March, defining not only a new ATL, but an upper resistance boundary for it as well.
Possibly to its benefit, ALGO looks to not be as overbought this time around, leaving room for interest to catch on and with a limited exchange price history, more volatile corrections could occur to unexpected levels, possibly giving us another exploration of the 1.50 zone for 3-500% gains from current pricing, matching the bullish potential of other coins.
To its detriment, not much hype for ALGO exists, missing the mark for China's list of blockchain's to watch while not having a strong foothold in the crypto community at large.
I suspect to see a modest trend like in yellow once ALGO breaks triangle with false upstarts where other Altcoins find success, but with less gains, leading it to fall back to lower resistance tests.
Past patterns have led to lackluster results, crawling back to trend slower than other coins after the tumble this March, defining not only a new ATL, but an upper resistance boundary for it as well.
Possibly to its benefit, ALGO looks to not be as overbought this time around, leaving room for interest to catch on and with a limited exchange price history, more volatile corrections could occur to unexpected levels, possibly giving us another exploration of the 1.50 zone for 3-500% gains from current pricing, matching the bullish potential of other coins.
To its detriment, not much hype for ALGO exists, missing the mark for China's list of blockchain's to watch while not having a strong foothold in the crypto community at large.
I suspect to see a modest trend like in yellow once ALGO breaks triangle with false upstarts where other Altcoins find success, but with less gains, leading it to fall back to lower resistance tests.
