Algorand (ALGO): Going For Long | Good R:R Position

ALGO has broken below the local support range that has been holding for weeks, and now we’re sitting in a pretty decisive zone.

Here’s the setup:
• If buyers manage to reclaim the support zone (around $0.24–0.245), then we’ll be looking for a proper bounce to the upside.
• If they fail, the bearish CME gap around $0.22 is the next logical target, and that would open the door for another bounce zone for us.

For now, we are simply observing whether this is a fakeout/liquidity sweep or a confirmed breakdown. Either way, risk management is key so that's why we have seen multiple entries that we are going to keep an eye on.

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