Potential Price Reversal
ALGO displays a strong uptrend, breaking a persistent resistance level. Stalling at a new resistance zone hints at potential downside, but a recently formed support zone around $0.1357 to $0.1370 could serve as a crucial pivot point, potentially initiating renewed upward movement.
12/4/20231 min read
ALGO has demonstrated a notable uptrend, successfully overcoming a resistance level that previously hindered its price growth for several days.
This bullish momentum led it to encounter another resistance zone. At present, the price growth has stalled, suggesting a potential reversal to the downside. However, a newly formed support zone has emerged, which could act as a buffer against further decline in price.
This support level, potentially a key pivot point, is positioned around $0.1357 to $0.1370. If it holds, it might catalyze a renewed upward movement in ALGO's price.