The article discusses the recent price movement of Algorand (ALGO) against Tether on Binance. After a prolonged downward trend, ALGO has broken out of its downtrend and surpassed a critical resistance level at $0.1470. The price is now in a potential correction phase within a support area between $0.1056 and $0.1244 before continuing its upward trend. The chart also shows that a strong support zone between $0.12 and $0.14 has consistently prevented further price declines, indicating buyer confidence. If ALGO maintains support within this green zone, it may stabilise before potentially breaking through notable resistance levels at $0.19, $0.21, and $0.25. An ascending green trendline from August further supports a longer-term bullish trajectory for ALGO.
- Content Editor ( cryptonewsland.com )
- 2024-11-14
ALGO Rallies Past $0.1470 Resistance, Eyes Higher Levels Amid Bullish Reversal