Algorand (ALGO) broke out of the ascending wedge to an ATH today of almost $1.10.
It's currently fighting to find support above the $1 level as profit taking commenced ATH.
I think the profit takers are a bit short sighted as this coin has a ton of room to run. Looking at the depth chart theres not much keeping this coin form $1.50!
It's also the first time I have seen it trend on Stocktwits
I think the next few hours will be critical to find support to determine on how fast we will keep moving as the RSI has gotten a bit high. For those that like fib level the next bullish price target is $1.20 which is the 127.2% Fibonacci level followed by $1.47 which is the 161.8% level. I think the bearish cases would be if BC takes a dump Algo might too. It's been holding up well against BTC downward moves, but at thee levels who really knows what can happen.
