The post ALGO Takes a Flight, Eyes $0.2000 appeared on BitcoinEthereumNews.com.

Algorand price is moving with bullish momentum, depicting the rounding bottom formation on the chart. Moreover, ALGO price has surpassed the immediate neckline of $0.15000, where it was hovering last week. $0.15000 is now acting as a support near the 200-day EMA. Buyers have gained traction and are looking to reach $0.2000 soon. Algorand price resumed to uplift the price and noted three white soldiers pattern on the charts, again, confirming the bullishness. Additionally, the ALGO coin has approached the 61.8% Fibonacci retracement zone and is on the verge of the upper bollinger band. The live price of Algorand is $0.1522, with an intraday gain of 5.56%, showing bullishness on the charts. Moreover, the trading volume increased by 11.77% to $151.38 Million. However, the pair of ALGO/BTC is at 0.00000387 BTC, and the market cap is $1.22 Billion. Analysts have maintained a buy rating and suggest that ALGO may reach the swing high of $0.2000 soon. Algorand Price Tops $0.1500 on Daily Chart Source: ALGO Price Chart By TradingView On the daily chart, ALGO price shows a turnaround and surged over 70% recently. Moreover, the ALGO coin attained bullish momentum, and buyers are now charging their muscles. The RSI curve stayed in the overbought zone and formed a positive crossover, suggesting that the ALGO price. The MACD indicator showed a bullish crossover and formed green bars on the histogram, suggesting that ALGO is likely to reach $0.2000 soon. ALGO Surpassed 20 Day EMA on Weekly Chart Source: ALGO Price Chart By TradingView On the weekly chart, ALGO price has surpassed the 20-day EMA and gained traction over the past few sessions. The technicals show that ALGO price is delivering a trend reversal and is witnessing a bull dominance on the charts. Buyers are looking aggressive and have beaten the sellers…

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Filed under: News - @ December 3, 2023 6:12 pm