Algorand price could run towards $1 if this happens
Algorand price may be approaching a trend reversal, with potential to rally toward $1 if it breaks above the 20-week MA on the weekly chart.
- Algorand price remains in a downtrend, recently dipping below key support at $0.22 before bouncing back.
- A potential double-bottom could form at $0.20, with a breakout above $0.23 possibly driving a move toward $0.26–$0.27.
- Analyst Michaël van de Poppe says that a weekly chart breakout above the 20-week MA could trigger a broader rally toward $0.90–$1.00.
Algorand ( ALGO ) price continues to extend its downtrend, consistently forming lower highs. The price has recently broken horizontal support around $0.22, dipping to $0.20 where buyers stepped in to scoop the dip, driving the altcoin ‘s price back up to retest the $0.22 zone.
However, RSI readings hover around 46, underscoring a neutral-to-bearish bias that leaves room for further downside. Another potential retest of the $0.20 level appears likely, as that area now serves as the new local support.
If this support zone is tested again, it could set up a potential double-bottom pattern, with the neckline forming around $0.23. A confirmed breakout above this neckline could trigger a measured move toward $0.26–$0.27, potentially signaling the start of a trend reversal to the upside.
Source: TradingView
Michaël van de Poppe: Algorand price could rally to $1
Zooming out to the weekly chart, Algorand price appears to be sliding toward its historical accumulation base, according to analyst Michaël van de Poppe . “It’s not unusual for a project to revisit its base — this tends to happen every cycle,” he wrote in a recent post on X .
van de Poppe suggests that a breakout above the 20-week moving average could signal a broader trend reversal for ALGO and potentially trigger a rally toward the $1 mark, in line with the 1.618 Fibonacci extension level near $0.90–$1.00.
Source: @CryptoMichNL
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto Enthusiasts React Strongly as ECB’s Digital Euro Project Progresses Further
Concerns Rise Over Privacy Protections and Democratic Oversight as ECB's Digital Euro Enters Pilot Phase

From LRT Protocol to Decentralized Infrastructure Provider: How Does Puffer Align with the Ethereum Ecosystem?
Puffer has consistently adhered to principles aligned with Ethereum in its design and product evolution, demonstrating support for Ethereum's long-term vision.

Awakening 26-Year-Old Dormant Code: Is x402 a Bridge Between Web2 and Web3, a Technological Singularity or a Meme Frenzy?
This "reactivation" of the underlying internet protocol standards—can it become the key to bridging the gap between "convenience" and "openness"?

Bitget Wallet Lite quickly surpasses 3 million users after launch, becoming the fastest-growing multi-chain wallet on Telegram
Bitget Wallet has released a Lite version, a seamlessly integrated Telegram multi-chain wallet, which surpassed 3 million users within just a few days of launch.

