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Why Is Algorand (ALGO) Price Up? Analyst Predicts a 300% Rally Some “old” cryptocurrencies are waking up this week. By old, we mean altcoins that were popular in the previous bull run (2019-2021). One of these awakening tokens is Algorand, with the ALGO price surging 20% today and 50% this week. It’s currently trading around $0.20. Prominent crypto analyst World Of Charts has updated his ALGO price outlook via X. Another one is XRP, of course. But, let’s focus on Algo now. Algorand (ALGO) Chart Analysis and Recent Performance ALGO is currently testing a major descending trendline after breaking out from its initial resistance level around $0.125, which has already resulted in a 50% gain. This recent price action follows a successful breakout from a smaller descending trendline, which triggered the current rally. The price movement appears to be following a falling wedge pattern, which is typically considered a bullish structure. This pattern, combined with the recent breakout, suggests potential for a second leg of upward movement if ALGO can successfully break through the current descending trendline resistance. The analysis projects a potential 300% rally from current levels in the midterm, suggesting ALGO could reach approximately $0.80. The immediate resistance lies near the $0.22-$0.25 range, marked by the descending trendline. If broken, subsequent resistance levels could form at $0.40 and $0.60 before approaching the $0.80 target Key support remains at the breakout region around $0.125, which could provide a safety net in case of any price retracements Since breaking the initial descending trendline, the ALGO price has maintained strong momentum with its 50% increase. A successful breakthrough of the larger trendline could confirm a long-term reversal and potentially lead to sustained bullish activity. However, traders should monitor trading volume around this trendline, as increased volume would help confirm the strength of any potential breakout $ALGO $LTC $BB #Write2Earn! #algotrade
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This Dogecoin Rival Gears Up to Be The Next Big Meme Coin With Elon Musk’s Help 😂😂 Yesterday, news broke out that there will be weekly livestreams featuring Elon Musk and Vivek Ramaswamy, where they discuss recent developments in the Department of Energy (D.O.G.E.). Of course, almost immediately, tokens on both Ethereum and Solana’s ecosystem were created with the same name. We will be focusing mostly on the one on Ethereum since in this ecosystem there are more PolitFi traders who can drive the price up. Is Dogecast the Next Big Meme Coin? Current market cap of Dogecast on this network is around $7 million and this could potentially go much higher, especially when Elon starts tweeting about it. He actually already confirmed 2 days ago that there will be weekly updates about DOGE. However, he still needs to use the actual word “Dogecast” and this could go bananas. A lot will also depend on how frequently Elon discusses this topic and when the podcast actually launches. According to reports, it’s starting “soon,” and once the official date is announced, it could potentially benefit the price as traders will have a specific date to focus on. This kind of concrete timeline often creates anticipation in the market. Of course, note that this is a new meme coin that relies mostly only on a narrative that could be hot in the upcoming days but it also depends on their CTO and team. If they decide to rug pull, it can easily go to 0. However, if they don’t do that and narrative stays hot, we are potentially looking at $50 million market cap or even $100+. Remains to be seen in any case. $FLOKI $SHIB $DOGE #Binance240MUsers #Write2Earn! #DogecoinCommunity #USUALonLaunchpool&Pre-Market #WorldLibertyXChainlink
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