Algorand trading the range

Here’s a detailed description of the trade idea for Algorand (ALGO):

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**Trade Idea for Algorand (ALGO/USDT)**

- **Entry Point (Buy):** $0.4598
This level represents a key support area identified through detailed technical analysis. It has been selected as the optimal entry point to maximize the risk-reward ratio.

- **Take Profit Levels:**
1. **$0.4920**: A short-term target corresponding to a local resistance area and recent price consolidation.
2. **$0.5264**: An intermediate target near a stronger resistance zone, offering an opportunity for partial profit-taking.
3. **$0.6240**: The ultimate target, aligning with a significant resistance level and suggesting the potential for a substantial upside move.

This strategy balances short-term gains with longer-term opportunities while adhering to prudent risk management.