Key Takeaways
- Algorand (ALGO) price prediction gains momentum following a breakout from its trading range.
- ALGO price trades above $0.28 for the first time in months following its price crash by over 70%.
- Crypto experts speculate a strong bullish rally for ALGO, as the price has gained over a 58% rally in just 7 days.
After months of sideways price movement and over 75% price decline from its high, Algorand (ALGO) is looking good in the last few weeks, as the price of Algorand (ALGO) for the first time in months recorded over 55% price rally in seven days, as the price broke above key market consolidation to the upside.
With the price of Algorand (ALGO) looking strong on the daily timeframe and trading above $0.28, it has a strong potential to rally to new all-time highs following a strong bullish price action across the crypto market over the last few weeks.
Bullish Market Action Influences Algorand (ALGO) Price Prediction
Bitcoin’s price rally from a region of $106,000, after weeks of price consolidation, to new all-time highs of $123,000 broke the internet and the crypto market, as altcoins began a strong bullish price rally, breaking out from their downtrend.
Recent bullish price movement in the cryptocurrency market has come as a boost for Algorand (ALGO), as its price has demonstrated strong price action since its notable price rally in November 2024.
However, ALGO’s price since its rally to $0.6 has struggled to show bullish price action, as it crashed to key support at $0.15. The price gained bullish strength to break above key daily highs of $0.25 in the last few days, preparing for a rally in July.
July has historically been a strong bullish month for crypto pairs, as ALGO price prediction for July is looking strong for Algorand (ALGO), with crypto experts such as Ali Martinez speculating a strong bullish rally to the upside for ALGO towards $0.6 highs and a potential $1 target.
Algorand (ALGO) Price Prediction For July
Source – ALGO Price Chart TradingView
Algorand (ALGO) price has broken out of its long-standing price range since January 2025, as it trades above the $0.25 resistance, flipping this zone into support. The price is now looking to retest this area to confirm its bullish price action to the upside.
The current open interest for ALGO’s price is high, following its price breakout above $0.25. The price looks bullish above this zone, as traders and investors are buying into ALGO, which could lead to a strong price rally toward key highs of $0.5 to $0.6.
Overall market sentiment for the ALGO price is bullish in July, as the price is expected to remain bullish unless it breaks out of its previous range.
