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Algorand Prediction - Is Algorand ready for a fresh start?



 Looking at the monthly chart, we can see that the Algorand price has been forming the $0.69 support but also establishing a trend line for the past few months. This trend line served as support at the beginning of the bull run and last month. Over the last month, the price has confirmed support, which is why we are speculating on bullish prices. Since the trend line is currently at the current price, we no longer assume that the price will fall sharply. Instead, the Algorand course could start the next kick off soon.

As the trend line steadily drives prices higher, we anticipate the Algorand price to rally to the $1.86 resistance in the near future. This is where the next resistance is on the monthly chart, which is why we consider it the first target. This target is very likely to be reached in 2022 barring a bearish break of the trendline as the trendline crosses the $1.86 resistance in January 2023. Once it comes to this junction, the Algorand course must decide on a direction. Either price breaks the trendline and suffers a decline to $0.69, or price breaks the $1.86 resistance and targets new highs. It is not yet possible to say what will happen, but we will inform you as soon as we can better assess it.

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