ALGOUSDT - Bearish below 0.2025

Here's a quick take on ALGOUSDT - Not a whole lot to discuss here other than ALGO has fallen below a major support level at 0.2025 which was established in late 2019 and early 2020 during the covid dump.

A 5 wave structure can be seen on the way down with wave 4 retracing internally only roughly 23.6% of the way to another key level around 45 cents.

I would expect a significant bottom to be found if it goes to 14 cents. Otherwise, if it can close a daily candle above 0.2025, then I belive it'll go to the next resistance level within a couple days.