Algorand's price has been relatively stagnant following Donald Trump's inauguration, trading at $0.4165, 16% below its recent high. However, the coin has promising fundamentals, with a significant increase in active addresses and transactions on the network. This growth comes after the Algorand 4.01 upgrade, which introduced new features and incentives. The total value locked in the decentralized finance industry on Algorand has also seen recovery. Additionally, Eni, an Italian energy company, has partnered with Algorand for a solar panel tokenization project. Technical analysis suggests a potential bullish breakout in the coming weeks, with a target price of $0.6127. However, dropping below the support level at $0.3290 could invalidate the bullish outlook.



Other News from Today