The post ALGO Price Analysis: Trend Reversal Hints At An Algorand Rally! appeared first on Coinpedia Fintech News
Despite taking a rocky road in 2023, the ALGO price displays a pivotal moment of reversal that might revive the altcoin. Taking a bullish reversal from $0.088, the Algorand prices reclaim the psychological mark of $0.10 and tease a longer uptrend.
Moreover, the recent reversal ends the short-term steak of lower high formations and reflects a fresh increase in bullish momentum. Therefore, with such increasing demand, the ALGO price prediction teases a jump to $0.1327.
Prior to the recovery, the ALGO price displayed a lower high formation under the influence of the 50-day EMA, reflecting strong supply pressure. However, the strong support at the $0.088 mark helps the buyers find solid footing, leading to a reversal rally.
The high speed recovery rally aligns with the Uptober rally in the overall market, leading to the 50-day EMA breakout. Moreover, the Algorand prices a
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