ALGO prices find an unexpected increase in demand overnight within a falling channel, reflecting a bullish reversal testing the 50-day EMA. Key technical points: ALGO prices show an overnight growth of 2.43%. The 50-day EMA provides resistance to bullish development. The 24-hour trading volume of Algorand is $573 Million, marking a 300% rise. Past Performance of ALGO ALGO token price trades at $0.7269 with an overnight growth of more than 20%, resulting in a reversal from the support trendline of the falling channel. The bearish pattern accounts for a downfall of 40% after facing rejection at the psychological mark of $1. Source-Tradingview ALGO Technical Analysis The 300% jump in the ALGO trading volume supports the trend reversal reflecting a solid bullish commitment. Hence, the chances of the 50-day EMA breakout are increasing significantly. The crucial daily EMAs showcase a bearish alignment with the downtrend, gradually gaining momentum while providing dynamic resistance. However, the bullish reversal challenges the 50-day EMA teasing a bullish breakout that will potentially test the 100-day EMA. The RSI slope indicates an upwards trend in the nearly overbought area after a sharp reversal from the 30% boundary. In addition, it shows an upward trend affected by that 14-day SMA and displays the increasing bullish momentum. The MACD and signal lines struggle to regain the bullish alignment with the positive crossover below z...
Pi Coin Price Prediction For March 10
