Based

bullish

Bitcoin

Rally

Algorand

<p>Algorand is back on the list of top performers with a broader market recovery as Bitcoin crosses above $96k. With a price surge of 20% this week, Algorand is ready for a cross above $0.50.&nbsp;</p>  
<p>Will Algorand price continue the bullish recovery? Let's find out in our latest ALGO price analysis.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-algo-price-analysis">ALGO Price Analysis</h2>  
<p>In the weekly chart, the Algorand price action showcases a bullish breakout of a long-coming resistance trend line. The Algo price trend showcases the fourth consecutive bullish candle in formation.&nbsp;</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/29162516/image-31-1024x509.webp" alt="ALGO Price Chart" class="wp-image-387035">
</figure>  
<p><a href="https://www.tradingview.com/x/hoEcNtYi/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a></p>  
<p>Furthermore, the recovery rally accounts for a price surge of more than 200%, starting from $0.091 to the current market price of $0.3426. The recovery rally has surpassed the 38.20% Fibonacci low at $0.3087, along with the 50-week and 100-week EMA line.&nbsp;</p>  
<p>Currently, the higher price action in the intraday candle is challenging the 200-week EMA line, preparing for a bullish rally. Along with the dynamic resistance, the price action showcases a resistance zone present between $0.39 and $0.40. Hence, for an uptrend continuation, the Algo price must surpass the $0.40 mark.&nbsp;</p>  
<p><strong>Technical indicators:</strong></p>  
<p><strong>EMA</strong>: Supporting the bullish recovery, the 50-week and 100-week EMA lines witness an uptick, increasing the chances of a bullish crossover.&nbsp;</p>  
<p><strong>MACD</strong>: The MACD and signal lines have skyrocketed with the massive surge of positive histograms. Hence, the technical indicators maintain a buy signal for Algorand.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-will-algo-price-recover-0-50">Will ALGO Price Recover $0.50?</h2>  
<p>Based on the Fibonacci retracement tool, the Algo price action is inching closer to the 50% Fibonacci level at $0.4559. Hence, the immediate price action showcases a minimum upside potential of nearly 12%.&nbsp;</p>  
<p>A bullish breakout will increase the chances of an uptrend reaching the $1 psychological mark. On the flip side, the crucial support remains at $0.3087.</p>  
<p>Will this recovery run in Algorand reach $10 in 2025? Find out now in Coinpedia's <a href="https://coinpedia.org/price-prediction/algorand-algo-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">ALGO price prediction</a>.</p>  
<h2 class="wp-block-heading" id="h-faqs">FAQS</h2>  
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732877761004"><strong class="schema-faq-question"><strong>What triggered Algorand’s 200% recovery rally?</strong></strong>
  <p class="schema-faq-answer">A bullish breakout of a long-standing resistance trend line and positive momentum across technical indicators.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1732877769008"><strong class="schema-faq-question"><strong>What are Algorand’s key price levels?</strong></strong>
  <p class="schema-faq-answer">Immediate support at $0.3087, resistance at $0.40, and upside targets at $0.4559 and $1.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1732877769037"><strong class="schema-faq-question"><strong>Are technical indicators suggesting more upside for Algorand?</strong></strong>
  <p class="schema-faq-answer">Yes, MACD, EMA alignment, and Fibonacci retracement indicate a bullish continuation.</p>
 </div>
</div>

ALGO Price Analysis: Can the Rally Target $1?

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