ALGO at a Breaking Point – Will Bulls Push Through?Yello, Paradisers! Have you been keeping an eye on #ALGO’s recent rally?
💎After breaking out of the converging triangle pattern, it looked like the bulls were ready to take over. But now, momentum seems to be fading as #ALGOUSDT tests a critical challenging zone—a level that has repeatedly crushed hyper-bullish excitement. So, what’s next? Could a breakout finally happen, or are we about to see a deeper correction? Let’s break it down!
💎Currently, ALGO is hovering between $0.430 and $0.420, an important short-term breakout support zone. The next few hours are going to be crucial for bulls. If they can hold this range, ALGO has a solid chance to retest the challenging zone once again. However, if this key support fails to hold, the price will likely drop toward the ascending support level below, where a stronger base is positioned. This is a strong line of defense for the bulls.
💎Now, here’s the game-changer: for the bulls to truly take control, they must break above the challenging zone. This is not just any resistance—it’s reinforced by the Golden Fibonacci level and a strong horizontal resistance. Breaking this zone would be a major turning point, giving the bulls momentum to aim toward the next major target of $0.5950–$0.6150. This is a strong resistance region which represents ALGO’s 52-week high—a spot where significant selling pressure could emerge. If bulls aren’t careful, this area might trigger a pullback before any further upside can develop.
Patience and discipline are key here, Paradisers. The market often tests both bulls and bears before making decisive moves, so stay vigilant.
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