Algorand (ALGO) is showing signs of strength as key indicators suggest a potential price reversal. Technical analysis highlights a falling wedge breakout, an RSI uptrend, and a completed retracement of the February capitulation candle. Market watchers believe these factors could push ALGO higher if critical resistance levels are breached.
What you'll learn 👉
ALGO Forms a Bullish Structure
Crypto analyst Ted (@TedPillows) noted that ALGO’s RSI has broken out of its downtrend, signaling a shift in momentum.
He pointed out that the crypto has filled the February capitulation candle, suggesting renewed buying pressure. ALGO’s current price structure aligns with a bullish falling wedge pattern, where price action has been consolidating within a downward-sloping formation.
$ALGO RSI has broken out of its downtrend.
— Ted (@TedPillows) March 6, 2025
Algorand has also filled the February capitulation candle and is now looking strong.
I think the time for a reversal has arrived. pic.twitter.com/4WNoheFamd
A breakout attempt near the $0.27–$0.28 resistance zone could confirm the reversal. If successful, ALGO may target $0.30 and $0.33 as immediate resistance levels. Key support levels to watch include $0.22–$0.23 and the psychological mark at $0.20. ALGO trades at $0.2473, as of this writing, up 0.40% and 3.56% according to CoinGecko.
The RSI has moved out of a prolonged downtrend, indicating a possible shift toward bullish momentum. At its current level of 41.10, holding above this threshold could fuel further upside movement.
Additionally, the MACD indicator also points to an imminent bullish crossover. Besides, the MACD line is getting closer to the signal line, indicating a possible change in market mood, even though it is still in bearish zone. If the crossover confirms, it could further support ALGO’s breakout potential.
Read also: Dogecoin (DOGE) Could Still See a 30x Price Surge to $6: Here’s How
ALGO Accumulation on the Rise
Trader Christiaan (@ChristiaanDefi) pointed out that smart investors are accumulating and staking ALGO, reinforcing long-term bullish sentiment. He emphasized Algorand’s speed, security, and stability, positioning it as a strong contender in the blockchain space.
$ALGO|| Smart minds are accumulating and staking more Algo✅
— Christiaan (@ChristiaanDefi) March 5, 2025
Algorand is the present & future of blockchain with speed, security, and stability.
Bullish on $ALGO for the long term. pic.twitter.com/qQFggac0BT
With rising on-chain activity and increased staking, ALGO’s fundamentals remain intact. If accumulation continues alongside improving technical indicators, a price breakout could gain further traction.
The future of ALGO depends on its capacity to overcome the resistance around $0.27 and $0.28. While a failure could result in additional consolidation or a retest of lower support levels, a solid breakthrough could push the price higher.
The combination of technical strength, investor accumulation, and a shift in momentum suggests ALGO is at a critical juncture. If bulls maintain control, a rally could unfold in the coming sessions.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
