Date: Tue, July 01, 2025 | 12:16 PM GMT
The cryptocurrency market is seeing a strong recovery, with Ethereum (ETH) jumping by an impressive 15% from its late-June low of $2,115 to currently trading around $2,450—reviving upside momentum across the board.
Among altcoins, Algorand (ALGO) is starting to turn heads. The token is showing early signs of a bullish reversal, and what makes this even more interesting is that ALGO is mirroring a pattern that recently played out on SEI — one that led to a sharp breakout.
ALGO Mirrors SEI’s Breakout Setup
A side-by-side comparison of SEI and ALGO on the daily chart shows striking similarities. Just weeks ago, SEI was stuck in a falling wedge pattern — a classic reversal formation. Once it broke above the wedge and cleared the 100-day moving average (MA), it exploded 76% higher and surged past its 200-day MA.
Now, ALGO seems to be following the exact same script.
ALGO has already broken out of its falling wedge and is currently testing its 100-day MA resistance, which sits around $0.1977. This mirrors the precise setup SEI was in just before its breakout — suggesting that ALGO could be gearing up for a similar move.
What’s Next for ALGO?
If ALGO can manage a daily close above the 100-day MA, it could unlock a potential rally toward the next major resistance — the 200-day MA, currently at $0.2568. That would mark a nearly 40% upside from current levels.
However, if ALGO gets rejected at the 100-day MA, traders should watch for a potential retest of the wedge breakout trendline as new support.
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