- Algorand confirmed a bullish double bottom reversal, reclaiming $0.30 with strong volume and targeting a projected upside to $0.60.
- A breakout retest is underway near the neckline zone, with buyers showing continued strength around the critical $0.30 support level.
- Roadmap updates, retail expansion, and upcoming partnerships add momentum to Algorand’s bullish recovery and institutional integration plans.
Algorand (ALGO) is exhibiting indicators of a strong bullish reversal, supported by price action confirming a traditional double bottom pattern on the 3-day chart. The recent breakout above resistance, along with new ecosystem updates, suggests renewed bullish sentiment across all of ALGO.
Double Bottom Confirms Reversal Pattern
Henry recently highlighted ALGO’s bullish formation, stating: “$ALGO made in USA and made for global finance getting ready for some Tick tock BOOM… Double bottom right now… Time to load some more.”
Technically, ALGO’s price action has completed a significant double bottom between the $0.14 and $0.16 zone. This area acted as a major support where bulls firmly held ground.
Moreover, ALGO broke the neckline around $0.30 with strong bullish momentum, signaling a shift from bearish to bullish bias.
Additionally, price is now hovering just above this neckline — a typical breakout retest zone. This level will be crucial for establishing new support. If bulls defend it, the rally could extend further.
ALGO Targets $0.60 as Bulls Reclaim Control
The pattern’s measured move projects a short-term upside toward $0.56–$0.60. This target reflects a 76.76% gain from the breakout point. Significantly, this zone aligns with historical resistance, adding more weight to its importance.
Furthermore, CW8900 emphasized, “$ALGO’s top priority is to break through the sell wall that exists until $0.35.” A close above $0.35 could open the door to rapid upside acceleration.
Besides, price action at $0.3068 as of writing — up 4.42% today and 7.85% over the past week — reflects rising bullish sentiment.
Fundamentals Fuel Retail Interest and Institutional Ambitions
Beyond the chart, Algorand’s fundamentals continue to strengthen. A fresh roadmap is set to launch from the Algorand Foundation.
In addition, a major retail push and serious decentralization efforts are in play, boosting long-term investor confidence.
Moreover, whispers of “huge partnerships” suggest institutional rails could soon run on ALGO’s network. If achieved, this prospect could be a remarkable development.
Thus, both technical and fundamental indicators align toward a bull case for ALGO. However, bulls must firmly defend the $0.30 level.
Consequently, if momentum continues and volume confirms, ALGO could be on track for a powerful rally to $0.60.
