This line of resistance (and support) has been around since early February, and can be seen as a point of tension a few days ago on March 3rd and 4th acting as resistance, then support, then resistance again before the market bombed and we tested our long trendline from December.
I'm expecting ALGO to bounce off this line tomorrow, re-test the long support line, and then finally push though and bounce between $1.23 and $1.15 for a while until the long trend pushes us up mid-month
this is a more realistic analysis than the whole "to the moon" hype. for as much as crypto has recovered. algo has struggled to even come close to its ath.
Good analysis as usual. Seems like it is playing out well. Algo released around or close to 200,000,000 coins in a 12hr period so I think won’t be going up to fast lol