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- ALGO price surge from $0.96 to $1.33 on Thursday’s trading session
- The 24-hour volume in ALGO is at $377,325,808 with a 15.65% increase
- The ALGO/BTC pair was trading at 0.00002282 BTC with a gain of 4.78%
The 4-hour technical chart highlights ALGO price action represents it is in an uptrend. According to pivot points, ALGO’s critical support level is placed at $0.96. Whereas if it moves up, the key resistance level to watch is $1.74. While diving into the weekly chart of a 4-hour time-frame, it completes a pin bar candlestick pattern representing bullish reversal with medium reliability.
EMA-(8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) intersects above EMA-13 & 21 (green & yellow), which projects a bullish trend. The price is also above EMA-55 (red). Investors may perceive a positive crossover in the EMA, and the price will also follow the positive trend.
RSI indicator (BULLISH), with a value of 59.85, indicates a buy signal in the coin. Moreover, Investors can see a flat slope in the index, and it may soar in future trading sessions.
The volume of (20.15M) represents a trading volume which is above the Volume MA (51.32M) of 20-days. High buying volume is required in ALGO to drive its price to bullish levels.
ALGO Price Rally To Sustain Until $1.74
ALGO price traded at $1.33 with a gain of 5.0% in the last 24-hour and 29.53% up in the weekly time-frame. Furthermore, ALGO price surged from the support of $0.96. In contrast, the market capitalization stands at $3.53 billion. Technically, investors can perceive a positive crossover in EMA, and the price is above the 55-EMA. RSI index showcases a flat slope. Moreover, the price movement can be towards the resistance of $1.74 in future trading sessions.
Resistance: $1.74
Support: $0.96
Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.
