- FET and ALGO have shown strong recovery momentum, with FET posting a 17% weekly gain and both tokens displaying similar bullish harmonic patterns.
- Both cryptocurrencies are following Bearish Gartley harmonic structures after facing major declines of 58% and 60% respectively from their previous highs.
- FET is targeting a D point near $0.751 representing a potential 28% upside, while ALGO aims for $0.2859 with a possible 48% gain from current levels.
- The harmonic patterns suggest continued gains are possible, though traders should watch for potential trend reversals once the D point resistance levels are reached.
Date: Sun, April 20, 2025 | 09:10 AM GMT
In the cryptocurrency market, the past week has seen a noticeable shift as several altcoins began rebounding after enduring major declines earlier this year. Among them, Artificial Superintelligence Alliance (FET) is gaining strong momentum, posting an impressive 17% weekly jump. Similarly, Algorand (ALGO) has also turned green, suggesting that both tokens could be gearing up for more upside.
Interestingly, both FET and ALGO are now showing the same harmonic pattern, hinting that the recovery rally might not be over yet.
Harmonic Structures Point to More Gains
Both FET and ALGO appear to be following a Bearish Gartley harmonic pattern, a structure that often signals a potential continuation of the current move before a larger reversal sets in.
Artificial Superintelligence Alliance (FET)
FET began forming this harmonic structure after it faced rejection at the X point around $0.84, which triggered a sharp correction of nearly 58%. Recently, it found strong support near the C point at approximately $0.345.
Since then, FET has bounced impressively and is currently trading around $0.58. Based on the harmonic setup, FET is now approaching its D point target near $0.751, which implies a potential 28% upside from the current price.
Algorand (ALGO)
Meanwhile, ALGO has been tracing a similar pattern. After being rejected at the X point near $0.3120, ALGO suffered a steep 60% decline. It eventually found support around the C point at $0.1452.
Following this bounce, ALGO is currently trading at approximately $0.19, with a D point target projected at around $0.2859 — signaling a possible 48% upside from current levels.
What’s Ahead?
If these harmonic structures continue to play out, both FET and ALGO could see more gains over the coming weeks, potentially reaching their respective D targets. However, it’s important for traders to watch resistance zones near the D points carefully, as harmonic patterns typically anticipate a trend reversal once these levels are hit.
For now, the bullish momentum for both tokens looks solid — but given the unpredictable nature of crypto markets, caution remains essential.
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