Algorand Technical Analysis: ALGO/USD sees a breakout above $0.65 with a significant increase in trading volume
|- ALGO/USD is currently trading at $0.66 after touching $0.69 and briefly pulling back.
- Algorand is ranked 33rd by market capitalization and it’s close to an all-time high.
Algorand has a $500 million market capitalization after the recent bull rally and has seen a massive increase in trading volume over the past month. The digital asset is up by 29% in the last 24 hours with a peak of $0.69 and a low of $0.49.
ALGO/USD daily chart
-637329413278991184.png){kind=link}
The 100-EMA and the 200-EMA are just crossing bullishly for the first time since basically the beginning of Algorand. The RSI is overextended but will not likely influence the price of ALGO in the short-term. MACD continues being positive and bulls are facing very little resistance to the upside.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.