Date: Wed, Oct 01, 2025 | 09:40 AM GMT
As the much-anticipated Q4 kicks off, the cryptocurrency market is showing signs of strength, with both Bitcoin (BTC) and Ethereum (ETH) surging over 2.50% today. Riding this wave of resilience, several altcoins are flashing bullish signals — and Algorand (ALGO) is one of the standout performers.
ALGO has bounced back with 7% gains today, but what makes it more interesting is its technical structure, which could be gearing up for a bullish breakout in the near term.
Source: Coinmarketcap
Falling Wedge in Play
On the daily chart, ALGO is forming a Falling Wedge — a pattern widely recognized as a bullish reversal setup, often appearing at the end of extended downtrends.
Recently, the token faced rejection from the wedge’s descending resistance, which dragged its price lower toward the support zone near $0.20. However, buyers stepped in aggressively, defending this level and sparking a rebound.
Algorand (ALGO) Daily Chart/Coinsprobe (Source: Tradingview)
Currently, ALGO trades around $0.2180, sitting just below the wedge resistance line. The tightening structure suggests that pressure is mounting for a breakout attempt.
What’s Next for ALGO?
If ALGO can break above the wedge resistance and reclaim its 100-day moving average at $0.2369, it would likely confirm bullish momentum. Such a move could open the doors for further upside, with the next technical target sitting at $0.3352, based on the wedge’s measured move projection.
On the flip side, a failure to confirm the breakout could see ALGO revisit its wedge support before another attempt higher.
For now, the structure looks promising, and traders are keeping close watch as ALGO approaches a potential turning point.
