The cryptocurrency Algorand (ALGO) has broken out of a long-term downtrend, indicating a potential shift in market sentiment. The asset had been facing continuous resistance and consolidation within a descending wedge pattern. However, it has now successfully broken out and has an initial target of approximately a 42.94% gain from its breakout level. The breakout suggests that buyers are regaining control and the price may move toward the $0.35-$0.38 range in the near future. Support remains at $0.22, and if the breakout sustains, ALGO may aim for higher resistance levels, potentially reaching $0.40. The future movement of ALGO will depend on overall market conditions in the crypto sector and macroeconomic factors, as well as investor sentiments and regulatory reforms. Investors and traders will monitor support and resistance levels to determine if the breakout is sustainable or if a price retreat will occur.



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