Algorand (ALGO): Evidence of an Mini Alt Season

Algorand (ALGO) looks to be joining in. ALGO may rise to 3600. That would be an attack of its "previous fourth." That is Elliot Wave vernacular for the point where a market started its final break lower. These points can act as a magnet as a new bull market begins. We think the fact that ALDO is above its 50-day moving average is another positive sign.

Bottom Line: If you see an alt that is rising sharply on a big day in Bitcoin (BTC), Mr. Market may be telling you that the alt in question is "high quality" alt. Go with momentum in these instruments until proven wrong.