hi traders
Let's have a look at Algorand on the weekly time frame.
To be honest, it's not what most traders expected as there's not much going on. After reaching 0,60ish high in December 2024, the price was in a strong downtrend but it's clear that it bottomed out in April 2025, but since then it's been a very steady but slow uptrend.
📊 Chart Overview
Current Price: $0.229
Major Support: $0.156
Major Resistance: $0.416
Price is trading inside a rising channel structure since early 2025.
🔎 Technical Analysis
Ascending Channel
Price has been respecting both the lower and upper bounds of the rising channel.
Trend Continuation
As long as ALGO holds above $0.156 (key weekly support), the trend bias remains bullish inside the channel.
RSI Status
Weekly RSI around 49–50, sitting at neutral levels.
No clear divergence, leaving room for further momentum in either direction.
🎯 Price Targets
First Target: $0.30–0.32 (mid-channel resistance zone).
Final Target: $0.41–0.42 (major resistance & channel top).
⚠️ Risk Management
Stop-loss: Below $0.156 (breakdown of weekly channel support).
Risk/Reward: ~1:2.5 toward $0.41 resistance.
📈 Trading Idea
ALGO is currently consolidating inside a weekly ascending channel, showing steady higher lows. A bounce from current levels could drive price toward the $0.41 target zone, with interim resistance around $0.30. Failure to hold $0.156 support would invalidate the bullish setup.
Let's have a look at Algorand on the weekly time frame.
To be honest, it's not what most traders expected as there's not much going on. After reaching 0,60ish high in December 2024, the price was in a strong downtrend but it's clear that it bottomed out in April 2025, but since then it's been a very steady but slow uptrend.
📊 Chart Overview
Current Price: $0.229
Major Support: $0.156
Major Resistance: $0.416
Price is trading inside a rising channel structure since early 2025.
🔎 Technical Analysis
Ascending Channel
Price has been respecting both the lower and upper bounds of the rising channel.
Trend Continuation
As long as ALGO holds above $0.156 (key weekly support), the trend bias remains bullish inside the channel.
RSI Status
Weekly RSI around 49–50, sitting at neutral levels.
No clear divergence, leaving room for further momentum in either direction.
🎯 Price Targets
First Target: $0.30–0.32 (mid-channel resistance zone).
Final Target: $0.41–0.42 (major resistance & channel top).
⚠️ Risk Management
Stop-loss: Below $0.156 (breakdown of weekly channel support).
Risk/Reward: ~1:2.5 toward $0.41 resistance.
📈 Trading Idea
ALGO is currently consolidating inside a weekly ascending channel, showing steady higher lows. A bounce from current levels could drive price toward the $0.41 target zone, with interim resistance around $0.30. Failure to hold $0.156 support would invalidate the bullish setup.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
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.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
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.