$ALGO O/USDT Update

Algorand is forming a symmetrical triangle pattern on the 8-hour chart,

signaling a potential breakout opportunity ahead!

Key Observations:

1. Accumulation Phase:

Price is consolidating and trading near the 50 MA,

suggesting accumulation.

2. Support & Resistance Levels:

Immediate support: $0.360

Key resistance: $0.400

3. Breakout Targets:

Bullish Scenario: A breakout above $0.400 could rally towards $0.430,

$0.470,

and potentially $0.525.

Bearish Scenario: A breakdown below $0.360 could push prices toward $0.330.

4. Volume Confirmation:

Watch for a volume surge to confirm the direction of the breakout!

Next Move:

Aggressive Traders:

Enter on breakout above $0.400 with tight stop-loss near $0.380.

Conservative Traders:

Wait for a confirmed retest of the breakout level for safer entry.

Stay alert and manage risk wisely—this symmetrical triangle pattern could drive the next major move!

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