Date: Mon, Aug 04, 2025 | 06:10 AM GMT
The cryptocurrency market is showing signs of recovery after the recent sharp sell-off, with Ethereum (ETH) bouncing back to $3,532 from its recent low of $3,357. This renewed momentum is spilling over into the altcoin market — and one standout to watch is Algorand (ALGO).
ALGO is up around 5% today, but beyond the short-term bounce, what’s grabbing attention is the chart — which is now revealing a striking bullish fractal pattern eerily similar to a past setup that led to a major rally.
Fractal Setup Hints at a Bullish Reversal
Zooming in on the daily chart, ALGO seems to be repeating a late 2024 fractal — a pattern that previously led to a massive 333% move.
Last time, ALGO broke out of a large falling wedge, followed by a smaller wedge breakout, reclaimed both the 50-day and 200-day moving averages, and then pulled back slightly to retest the 200 MA — holding firm before launching higher. That entire sequence is marked by the first green circle on the chart.
Fast forward to now, and the price action is showing an almost mirror reflection.
ALGO has again broken above a long-standing falling wedge, followed by a second mini wedge breakout, reclaimed its 50 & 200 MAs, and is currently undergoing a healthy pullback — once again landing in the same price zone as its previous launchpad (circled again on the current chart).
What’s Next for ALGO?
The immediate focus is on the 200-day moving average, now sitting near $0.2335 — a level ALGO has just reclaimed. If this support holds and buyers step in, the fractal suggests a potential breakout move toward the ascending trendline — possibly targeting the $1 area, representing a ~300% upside from current prices.
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