Date: Thu, Sept 25, 2025 | 03:30 PM GMT
The cryptocurrency market continues to undergo a sharp retracement, with Bitcoin (BTC) and Ethereum (ETH) sliding into weekly losses. ETH, in particular, has dropped more than 13%, dipping below the $4,000 mark. Unsurprisingly, major altcoins are also under pressure — including Algorand (ALGO).
Over the past week, ALGO has fallen more than 16%. More importantly, the coin is now testing a crucial technical zone that could decide whether it rebounds or breaks down further.
Falling Wedge Pattern in Play
On the daily chart, ALGO is shaping a falling wedge pattern — a well-known bullish reversal formation that often signals the end of a downtrend.
The latest correction has brought ALGO down to the wedge’s lower boundary around $0.1999, a level that has consistently attracted buyers in recent months. At the time of writing, ALGO trades near $0.2063, showing that bulls are stepping in to defend this support.
The first key objective for bulls is reclaiming the 200-day moving average ($0.2158). Successfully closing above this level would confirm renewed momentum and strengthen the bullish outlook.
What’s Next for ALGO?
If ALGO manages to hold above the wedge’s support, the token could attempt a rebound toward the $0.22 resistance, which marks the wedge’s upper boundary. A breakout above this line would open the door to a much larger upside move, possibly triggering a sustained bullish reversal.
However, failure to hold the $0.20 support would put the bullish wedge structure at risk. A breakdown could drag ALGO into a deeper decline, with the next major support seen near $0.17 — a level that could test traders’ patience.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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