The price of Algorand (ALGO) has entered a bullish phase as analysts identify strong technical patterns indicating potential upward momentum. Analysts have highlighted a confirmed double bottom pattern and a possible W formation, suggesting that ALGO may break key resistance levels. The recent increase in price to $0.4112 within the last 24 hours is seen as a positive market trend, although trading volume has declined. Analysts project that ALGO could ascend to $0.5946 or even $0.60 if the current trend persists and the W pattern holds true. However, the price needs to overcome vital resistance levels and maintain strong buyer interest to continue its growth.



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