🔥💥🌟💥 ALGO Just Formed A “Golden Cross”

Coin: Algorand (ALGO)

Price: $0.27

Market Cap: $2.26B

Algorand is a decentralized, secure, and scalable platform for digital currency and smart contracts. Leveraging a variant of Proof of Stake (PoS) known as Pure PoS (PPoS), its protocol ensures network security and achieves consensus for block production.

ALGO price grew almost 17% this year. Although its growth is still behind other coins, ALGO could be getting ready for a huge bull run, as its 4H price chart shows its EMA lines just formed a “Golden Cross”.

Exponential Moving Averages (EMAs) are a moving average that places a greater weight and significance on the most recent data points, making them particularly responsive to new market information.

The Golden Cross is a bullish signal observed on price charts, occurring when a shorter term EMA crosses above a longer term EMA. This event is seen as a positive sign, suggesting that a market could be moving from a downtrend to an uptrend, indicating potential long-term growth ahead.