• The recent 0.54% increase in ALGO’s price hints at growing bullish momentum, leaning towards an upward breakout.
• Over the past 36 hours, ALGO’s volatility has remained relatively low, hovering around the lower end of its historical range.

Algorand [ALGO] has caught the attention of traders as it consolidates within a symmetrical triangle pattern, hinting at a potential major price move.

ALGO is currently consolidating within a symmetrical triangle, marked by two converging trendlines with similar slopes. The breakout size is often proportional to the widest part of the triangle.

For ALGO, this suggests a potential 54% price movement.

The recent 0.54% increase in ALGO’s price hints at growing bullish momentum, suggesting an upward breakout. If ALGO breaks above the upper resistance line with strong volume, it could trigger a bullish surge.

Conversely, a breakdown below the support level may lead to a bearish continuation. Given the current market sentiment and accumulation trends, an upside breakout appears more probable.

 Are investors holding for a surge?

ALGO’s Market Value to Realized Value (MVRV) score has increased by 2.24 in the last 24 hours, signaling increased investor profitability. This metric measures whether holders would profit if they sold at current prices.

A rising MVRV score suggests heightened holding behavior, indicating that investors expect further price appreciation.