Is ALGOs price heading towards a breakout on the charts?
Algorand [ALGO] spent February and March under persistent selling pressure as the price drifted from $0.1005 towards the $0.0796 demand floor. Throughout that period, the RSI remained subdued, reflecting weak demand and steady bearish control. Conditions, however, changed sharply in early April. The price surged from $0.0796 towards $0.1272 on the strongest volume expansion of the period, while the RSI briefly approached 80. This combination hinted at aggressive buyer participation, rather than a simple relief rally. Momentum later began cooling down. Although ALGO extended towards $0.1459, the RSI failed to confirm the higher high. Consequently, participation weakened as the price gradually rotated lower through May. At the time of writing, the market appeared to be stabilizing. The price was holding above $0.1005, while the RSI recovered to 65.22. This suggested that buyers may be re-engaging near support, even as the resistance remains firmly positioned at $0.1272. More importantly, a breakout above $0.1272 with stronger volume would indicate renewed demand and could open a path towards $0.1459. Otherwise, failure to overcome resistance may encourage another rotation towards $0.1005, keeping ALGO within its broader consolidation range ALGO nears a key breakout test now sits in the upper half of its two-month consolidation range. This means that buyers could continue