Algorand Processes 34K Transactions in 3 Seconds—Will ALGO Price React?
The post Algorand Processes 34K Transactions in 3 Seconds—Will ALGO Price React? appeared on BitcoinEthereumNews.com.
From November 2024 to April 2025, Algorand’s price action formed a bull flag pattern, a signal for upward continuation. ALGO’s reduced volatility, paired with historical patterns of major rallies after stabilization, points to a likely increase in price action. Algorand (ALGO) recently showed its fast-performance blockchain strength, processing 34,008 transactions in one block in less than three seconds with a 100% success rate. This efficiency record revitalized the attention for ALGO as it came at the time of bullish technical indications that pointed towards a possible price breakout. Bull Flag Formation Indicates Breakout Potential For Algorand Price Source: Coinglass From November 2024 to April 2025, ALGO price action displayed a bull flag pattern, which is one of the most popular formations to signal upward continuation. The first part of the pattern displayed a steep price rise, followed by consolidation. Technical indicators indicated that Algorand price was preparing for a move towards the $0.3000 level, as evidenced by directional indicators on the price chart., as reported previously. Source: Coinglass Lower volatility in the consolidation phase indicated that traders were building up ALGO, which supported the breakout potential. According to TradingView, to support this view, the Relative Strength Index (RSI) on the one-hour chart rose from 37 to 54 before plunging back to 48 at the time of writing. This rise showed increasing momentum, with the RSI crossing the 50 level, a typical sign of bullish sentiment. Source: Coinglass Whilst, statistics from ALGO’s derivatives market supported the optimism. The Long/Short Ratio, examined over a period of four hours, indicated a rising level of longs. The Taker Buy/Sell Volume ratio hit an apex around 1.3, emphasizing traders’ inclination to buy over selling. Moreover, Algorand’s Long/Short Accounts Ratio was around 2.0, indicating that there were more traders betting on a move up. This information was…
Filed under: News - @ February 25, 2025 3:21 am