Algorand Price Poised for Bullish Breakout as Double-Bottom Formation Gains Momentum

Algorand's (ALGO) price is showing signs of a bullish reversal as buyers defend support and push the price towards key resistance. According to Crypto With Gopal, ALGO is forming a potential double-bottom pattern on the four-hour chart after buyers defended the $0.077-$0.080 support zone twice.

The recovery has pushed the price toward the key neckline at $0.095-$0.098, placing bulls at a critical decision point. A sustained move above this resistance could confirm the reversal pattern and improve sentiment.

A confirmed breakout above $0.098-$0.100 could strengthen the bullish outlook and open the path towards the technical target near $0.115. However, ALGO needs to hold above the neckline to validate the setup.