ALGO/USDT Weekly Chart Update

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Now, let’s dive into this chart analysis:

ALGO on this weekly timeframe has been in a downtrend since March 2024. The price is already down by 60%, and if the market goes bearish, ALGO is likely to drop a further 48% to 50%.

The only bullish scenario for ALGO is to break above the 50 EMA and the resistance trendline.

Key Observations:

~ Support/Entry: $0.076 to $0.0909
~ Resistance: $0.1905
~ Higher Rallies: $0.2817, $0.4679, $0.8280, $1.5124, $2.3825, $3.44.

DYOR. NFA.

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