Algo channel top, will it bounce?
Algorand looks like it has broken out of a wedge and heading upward. However, it is about to hit resistance in a ascending channel it has been in since February. However, if it breaks through that resistance, that could be a good sign that it is about to continue upward similar to what it did at its previous breakout. Hence $1.45 looks to be an interesting price to watch.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.