Algorand’s adoption surges 62% – Is a $0.19 breakout possible?
2025-07-05 13:10:11
Main Idea
Algorand's adoption rate surged by 62% in July, driven by real-world applications and new developments, but its price remains in a descending triangle pattern with potential breakout or decline scenarios.
Key Points
1. Algorand's New Adoption Rate hit 62.02% in July, the highest since January, up from an average of 32.22%, with user onboarding exceeding $294 million.
2. The Algorand Foundation introduced multichain functionality, xGov testnet deployment, and staking on Binance and Crypto.com to enhance network utility.
3. ALGO's price is currently in a descending triangle pattern, with a potential bullish breakout above $0.19 targeting $0.23-$0.30, or a decline to $0.15-$0.13 if resistance holds.
4. The MACD shows a small bullish signal, but the price remains at $0.1758, needing momentum to confirm a trend reversal.
Description
Is ALGO’s ecosystem growth strong enough to break the descending triangle?
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