Algo:Bullish Momentum Intact for a Potential Upside continuation

4 giorni fa

Algo/USDT has been one of the standout performers among altcoins over the past month, with the price soaring by over 500%. After peaking just above $0.60, the coin experienced a healthy correction, forming a local low at $0.35, a level slightly above March's high.

Following this correction, ALGOUSDT entered a consolidation phase, creating a base around the $0.40 mark. This consolidation suggests the market is gathering strength for another potential upward move.

Currently, the price action indicates that Algo/USDT may be preparing for a new leg higher, with a likely target at the significant resistance near $0.70.

From a strategic perspective, I remain bullish as long as the $0.32 support level holds firm. The suggested approach is to buy dips, capitalizing on opportunities within this uptrend.

Key Levels to Watch:
- Support: $0.35 (recent local low), $0.32 (critical support)
- Resistance: $0.60 (previous high), $0.70 (major target resistance)