CandleFocus Algorand (ALGO) price targets 60% breakout amid demand resurgence
2024-11-15
Author: Content Editor
The price of Algorand (ALGO) has seen a bullish revival, with the altcoin up 30% on its weekly chart. The recent recovery has been marked by a bullish engulfing candlestick and a morning star setup. The altcoin is currently facing resistance at the 38.2% Fibonacci level, but if it breaks through this level, it could see a 59% surge to the psychological mark at $0.25. Analysts expect more upside actions from the crypto sector in the coming weeks, supporting ALGO's outlook. The broader market performance, particularly for Bitcoin, will also play a role in shaping ALGO's trajectory.
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