fxstreet.com 04 Feb, 2021 14:15 am

ALGO is on the brink of hitting $1 for the first time since 2019

Algorand has been trading in a robust and steady uptrend since December 31, 2020. The digital asset has formed an ascending parallel channel on the 12

Algorand price is contained inside an ascending parallel channel which could break soon.Algorand price can see a massive 40% breakout in the short-term Algorand has established an ascending parallel channel on the 12-hour chart and it’s close to a breakout above the crucial resistance level at $0.Climbing above this point will drive Algorand price towards $1, which is a 40% move, calculated using the height of the pattern.69 will be a bearish sign that would push Algorand price down to a support trendline at $0.

The digital asset has formed an ascending parallel channel on the 12-hour chart and aims to see a breakout in the short-term thanks to several positive announcements.ALGO/USD 12-hour chart This breakout can happen in the short-term thanks to the positive announcement and partnership with Xfinite.

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