Chart Whisperer Spots Algorand Breakout: Get Ready For A 50% Rally

Algorand (ALGO), the blockchain platform known for its speedy transactions and energy efficiency, has caught the eye of crypto analysts. Popular analyst ZAYK Charts identified a potential paradigm shift for ALGO, pointing to a price breakout on the 12-hour chart that could propel the token 40-50% higher.

Algorand: Breaking The Resistance Barrier

Technical analysis, a realm where chart patterns and indicators guide investment decisions, has become a popular tool in the cryptocurrency space. ZAYK Charts noticed a significant development for ALGO – a breakout from a trendline on the 12-hour timeframe.

This trendline resistance level had previously acted as a ceiling for the token’s price. The successful breach of this resistance is seen as a bullish signal, suggesting a potential shift in momentum towards a price increase.

$ALGO Trendline Breakout is Already Done,In 12H Timeframe