ALGO triangle breakout incoming
ALGO is a layer-one protocol that has been relatively flying under the radar of late. There are a TON of projects now being built atop it due to its excellent technical properties such as high throughput and extremely low transaction fees relative to ETH.
Technicals are looking really solid, with a clear symmetrical triangle pattern forming since early September. As a continuation pattern, it is more likely to break to the upside than the downside though we need to be prepared for either option. ALGOUSD is especially likely to break to the upside if bitcoin continues to hold current levels or continue its upward trend as it has been. Keeping a close eye on volume in coming days.
Technicals are looking really solid, with a clear symmetrical triangle pattern forming since early September. As a continuation pattern, it is more likely to break to the upside than the downside though we need to be prepared for either option. ALGOUSD is especially likely to break to the upside if bitcoin continues to hold current levels or continue its upward trend as it has been. Keeping a close eye on volume in coming days.
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