Algorand crypto is forming a falling wedge pattern on chart and if the breakout sustains above certain levels, then it could be a good buy candidate.
In this article, we will look at Algorand crypto next target by looking at price chart and technicals.
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Algorand Crypto Next Target
- Current Price: $0.1864
- Market Cap: ~$1.60 billion
- 24h Trading Volume: ~$68.5 million
- Circulating Supply: ~8.58 billion ALGO
- Total Supply: 10 billion ALGO
Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal with upside potential to $0.22 resistance. Stop Loss at $0.17.
This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend.
📈 Key Technical Indicators
- 24h Price Change: -6.74%
- 24h Range: $0.1847 – $0.2017
- Relative Strength Index (RSI): ~44 (approaching oversold territory)
- MACD: Bearish divergence forming
- Support Level: $0.180
- Resistance Level: $0.200
- Current Trend: Short-term bearish with potential for rebound
📰 Latest ALGO News & Developments
- 📉 Market Correction
ALGO has experienced a significant decline of over 24% in the past month, dropping from highs near $0.51 in December 2024 to approximately $0.20 by mid-March 2025. - 📊 DeFi Ecosystem Growth
Despite price challenges, Algorand’s DeFi protocols have shown resilience, with a total value locked (TVL) exceeding $84 million by mid-March 2025. - 📈 Ecosystem Expansion
Algorand continues to focus on ecosystem growth, with initiatives aimed at enhancing smart contract capabilities and cross-chain interoperability.
📌 Summary
Algorand is currently facing downward pressure, with technical indicators suggesting a bearish trend.
👉 Short-Term Forecast: Potential to test support at $0.180
📉 Risk Factor: High volatility amid market correction
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