Algorand (ALGO) Price Tests Key Support Amid Potential 40% Upside Following Bullish Pattern and Strong Q2 Report
Main Idea
Algorand (ALGO) price is testing a key support level at $0.26, with potential for a 40% upside due to a bullish double bottom pattern and strong Q2 2025 network fundamentals.
Key Points
1. ALGO price confirmed a double bottom pattern with a neckline at $0.26, now acting as critical support.
2. Q2 2025 Transparency Report highlights record 3B+ lifetime transactions and a 7.5% quarterly volume increase.
3. Consensus staking surged 28.7% to 1.95B ALGO, and community staking rose 51%, enhancing decentralization.
4. Real World Asset (RWA) TVL increased by 12.7%, driven by tokenization projects like Midas’ mTBILL ETF certificate.
5. If $0.26 support holds, ALGO could retest $0.34, with a measured move target of $0.37 (40% upside). A close below $0.26 risks a pullback to $0.23 or $0.20.
Description
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