- Algorand breaks key resistance, signaling bullish reversal and 56% weekly price surge
- Retest of $0.258 could confirm support and ignite a rally toward $0.30 and $0.42
- Double bottom pattern and high volume reinforce ALGO’s upward momentum above $0.28
Algorand (ALGO) is gaining strong attention across the crypto market as multiple analysts point to a confirmed bullish breakout. The token has broken past a critical resistance zone and now hovers near $0.2722, despite a slight pullback.
Over the past week, ALGO has surged over 56%, signaling renewed investor interest and technical strength. Market watchers are now eyeing a potential continuation of this uptrend, as price action aligns with broader altcoin market movements and growing adoption narratives.
Retest at $0.258 Could Set the Stage for Rally
According to market analyst Ali Martinez, Algorand has exited a long-standing parallel channel, breaking above the key $0.245 resistance. The token’s surge to $0.27948 suggests strong bullish momentum. He suggests that a healthy retest of the breakout zone near $0.258 could offer a solid long entry. This level may now serve as a critical support zone. Martinez also identified $0.30, $0.34, and $0.42 as the next major resistance areas.
Volume metrics and the current candle structure both support this view. The price action indicates a potential medium-term trend reversal. If ALGO holds the $0.258 level during a retest, the setup could validate a continuation toward the upper targets.
Algorand $ALGO appears to be breaking out from a parallel channel. A retest of the breakout zone around $0.258 could provide a solid long entry opportunity. pic.twitter.com/LCgGOLV0b1
— Ali (@ali_charts) July 15, 2025
Double Bottom Breakout Reinforces Bullish Sentiment
Crypto Winkle, another market analyst, sees confirmation of a classic double bottom pattern. He points out that ALGO has pushed past the $0.275 resistance on a sharp 300% volume increase. This confirms the breakout and reflects rising investor confidence.
Despite the RSI showing overbought conditions, momentum remains intact. Winkle suggests $0.3520 as the next major resistance, aligning with a previous consolidation zone. Additionally, with ISO 20022 adoption gaining traction and altcoins rotating back into favor, ALGO may benefit from a broader sector rally.
$ALGO just broke above key resistance at $0.275, confirming a double bottom breakout on strong volume (+300%).
— Crypto Winkle (@CryptoWinkle) July 14, 2025
RSI shows momentum is still intact despite being overbought. With ISO 20022 adoption gaining attention and altcoins rotating back up, $0.3520 is the next level on… pic.twitter.com/q2FUA72B8u
Momentum Builds Above $0.28
Technical analyst TedPillows added that ALGO has broken out of an ascending triangle pattern. The bullish close above the $0.23–$0.25 resistance range now positions the asset near $0.28. If the token stays above this level, a strong continuation toward $0.36 and even $0.44 becomes increasingly likely.
The breakout was accompanied by heavy buying interest and strong candle formations. This indicates a solid shift in market sentiment. Consequently, former resistance zones may now act as support, further strengthening the bullish case.
