World

Algorand

<p>World Of Charts, a popular analyst, shared on X highlighting a bullish pattern forming on Algorand (ALGO). He suggested a potential 50% upward move if the price successfully breaks out of its current formation. Backed by technical indicators and recent price behavior, this projection has gained attention from crypto traders and analysts alike.</p>
<h2 class="wp-block-heading" id="algo-chart-analysis">ALGO Chart Analysis</h2>
<p><a href="https://captainaltcoin.com/why-is-algorand-algo-price-up/" target="_blank" rel="noopener noreferrer nofollow">Algorand’s price </a>is moving sideways in what traders call a bullish pennant – this usually happens after a price goes up sharply. Before this pattern formed, ALGO had a strong rise from $0.26 to $0.47. This price movement reflected substantial buying momentum.</p>
<p>The current pennant consists of two converging trendlines: an upper descending resistance line and a lower ascending support line. These trendlines are guiding the price toward a breakout zone. As volatility decreases, a breakout appears imminent. Technical analysis suggests a breakout above resistance could trigger an upward move, aligning with the bullish sentiment in World Of Charts’ tweet.</p>
<h2 class="wp-block-heading" id="key-support-and-resistance-levels">Key Support and Resistance Levels</h2>
<p>The chart identifies clear support and resistance zones that are guiding <a href="https://captainaltcoin.com/why-is-algorand-algo-price-set-for-a-300-pump-key-breakout-level-revealed/" target="_blank" rel="noopener noreferrer nofollow">ALGO’s price</a> action. The lower ascending trendline acts as support, with the $0.39–$0.40 range serving as a key buying zone. Historically, this level has shown strong buyer interest, preventing further declines.</p>
<p>On the upside, the descending trendline represents resistance. A breakout above this level could confirm the bullish pennant pattern. If confirmed, the measured move of the pennant projects a price target of $0.52–$0.54, representing a 24–50% gain from the breakout level.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="581" src="https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-1024x581.png" alt="" class="wp-image-601525" srcset="https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-1024x581.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-767x435.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-1536x871.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-2048x1161.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-265x150.png 265w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-617x350.png 617w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819-788x446.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-819.png 679w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/WorldOfCharts1/status/1868710027135271082" target="_blank" rel="noopener noreferrer nofollow">X/WorldofCharts</a></em></strong>
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<p>Moreover, to validate the bullish breakout, traders are monitoring volume closely. A successful breakout typically requires increased trading volume alongside a strong upward price move. This would confirm the presence of buyers and strengthen the likelihood of ALGO reaching its projected target.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/5-reasons-why-cardano-ada-price-could-hit-new-ath-in-the-2025-bull-run/" target="_blank" rel="noopener noreferrer nofollow">5 Reasons Why Cardano (ADA) Price Could Hit New ATH in the 2025 Bull Run</a></em></strong></p>
<h2 class="wp-block-heading" id="tweet-analysis-and-market-sentiment">Tweet Analysis and Market Sentiment</h2>
<p>World Of Charts’ tweet points to optimism surrounding Algorand’s bullish pennant. The tweet forecasts a 50% bullish wave post-breakout, which aligns with technical projections on the chart. While the chart’s measured move indicates a conservative 24% gain, a stronger breakout could extend gains to meet the tweet’s 50% target.</p>
<p>With the pattern nearing completion, traders remain watchful for signs of a breakout. <a href="https://coinmarketcap.com/currencies/algorand/" target="_blank" rel="noopener noreferrer nofollow">ALGO’s price</a> movement and trading volume in the coming days will determine if the bullish wave materializes.</p>
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<p>The post <a href="https://captainaltcoin.com/algorand-algo-price-forms-bullish-pattern-is-a-50-surge-on-the-horizon/" rel="noopener noreferrer nofollow">Algorand (ALGO) Price Forms Bullish Pattern—Is a 50% Surge on the Horizon?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Algorand (ALGO) Price Forms Bullish Pattern—Is a 50% Surge on the Horizon?

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