The weekly technical chart for Algorand showcases a bullish momentum.ALGO price is showing signs of consolidated momentum on coming to the daily chart.Its price is trading above 50 and 100 Moving Average.The 50MA price is at $1.18, making it temporary support for the coin. The coin's resistance on the upside will be at $2.03, and on the downside, it will see a bounce back from $1.02.Algo price is currently inside the accumulation zone on the daily chart.If the price breaks 10% above the parallel channel then a strong bullish momentum upto the point of $2 can be seen.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.