ALGOUSD Gets Rid of Negative Pressure - Analysis - 02-01-2025

The price of ALGORAND (ALGOUSD) has strengthened its gains during its recent trades at the moment levels, so that the price gets rid of the negative pressure of the previous 50-day simple moving average with this rise, amid the dominance of the upward trend in the short term and its trading along the trend line, as we notice the occurrence of positive signals in the relative strength indicators, after they had previously reached areas of severe saturation with selling operations.

Therefore, our expectations indicate further rise in the price of the currency during its upcoming trades, especially in the event that it breaks the current resistance of $0.4134, to then target the pivotal resistance level of $0.6133.

The expected direction for the upcoming trades: Upward $ALGO