If $ALGO breaks above $0.4722, it may rally towards $0.50 and beyond. A breakdown below $0.3978 could lead to a retracement toward the $0.35-$0.36 range.
Recommendation: Traders can look for a confirmation of a breakout above resistance before entering long positions. Alternatively, waiting for a pullback to support could present a buying opportunity for long-term holders.
Support and Resistance:
Support Levels: The recent low at $0.3978 acts as immediate support.
Resistance Levels: The daily high at $0.4722 serves as a strong resistance. Breaking above this could indicate further upward momentum.
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