- Algorand (ALGO) has turned green and is showing bullish continuation signs as the crypto market stages a mild recovery with Ethereum bouncing back to around $3,700.
- ALGO is forming a technical fractal pattern that closely mirrors Mantle (MNT)'s recent successful bullish setup, which delivered nearly 40% gains after breaking from a falling wedge and completing a Bearish ABCD harmonic pattern.
- ALGO has reclaimed its 100-day moving average at $0.2314 after bouncing from point C, following the same sequence as MNT's bullish breakout.
- If the fractal pattern continues, ALGO could target the Potential Reversal Zone near $0.3880 for a potential 57% upside, provided it maintains support above $0.2239.
Date: Thu, Aug 07, 2025 | 06:22 AM GMT
The cryptocurrency market is staging a mild recovery after a sharp correction, with Ethereum (ETH) bouncing back to around $3,700 from its recent low of $3,357. This rebound is helping lift sentiment across altcoins — including Algorand (ALGO), which has returned to the green and is now showing signs of a possible bullish continuation.
On the charts, ALGO is forming a technical fractal that closely mirrors a successful bullish pattern recently completed by Mantle (MNT). This setup could be signaling that ALGO is preparing for its next leg higher.
ALGO Mirrors MNT’s Bullish Path
When you compare the daily charts of MNT and ALGO, a striking structural similarity emerges.
Not long ago, Mantle (MNT) broke out from a falling wedge pattern — a classic bullish reversal formation. It then formed a Bearish ABCD harmonic pattern, where a sharp bounce from point C helped the price reclaim the 100-day moving average. From there, MNT soared nearly 40% toward point D, completing the pattern.
Now, ALGO appears to be repeating that same sequence.
After a breakout from its own falling wedge, ALGO surged to form point B, retraced to point C, and has just bounced higher — reclaiming its 100-day moving average, which now sits at $0.2314. The structure of the ABCD harmonic is clearly visible, aligning closely with the bullish setup that played out on MNT.
What’s Next for ALGO?
If this emerging fractal continues to unfold, holding above the 100-day moving average could act as a springboard toward the Potential Reversal Zone (PRZ) near $0.3880 — a possible 57% upside from current levels.
To keep the bullish scenario intact, ALGO must maintain support above point C at $0.2239. A break below this level could invalidate the pattern and delay any potential rally.
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