Algorand Poised For Long-Term Accumulation Phase Amid Market Correction
- Algorand is entering a long-term accumulation phase with the potential for further price drops.
- Santana suggests the current correction offers a key buying opportunity ahead of a 2025 bull market.
- Despite recent declines, Algorand remains active with a 24-hour trading volume of $37.5 million.
Algorand (ALGO) could enter a long term accumulation phase. On Sunday, in an X post, Alan Santana pointed out that Algorands current price correction has yet to be completed, with another dip is possible soon.
Algorand has been rejected at the EMA34 last week and broke below EMA13 this week, which recent price action shows. This is simply a technical shift indicating possible further prices drops activating a long term accumulation zone. Algorand has a lower low in early August 2024 but that was produced by the network, and current trends continue as a probability of an additional decline.
Algorands Potential Buy Zone
If the price of Algorand drops into the upcoming price dip, it could serve as an opportunity for investors to pick up the coin at lower prices ahead of the busting 2025 bull market. With new all time highs anticipated, ALGO is expected to grow significantly in 2025 according to market forecasts. This current correction period is a good time for investors to use to get in position for the next big cycle up market rally.
Although this correction continues, experts stress that it is temporary. The correction may get worse in coming weeks or months, but is expected to end soon. By the time the market stabilizes the attention shifts to growth and if Algorand recovers and continues to go up.
In the last 24 hours, ALGO has slumped by 0.27%, trading at $0.1263. The cryptocurrency has dropped over 9.54 per cent in value over the last seven days.
Source: TradingView
Algorand saw a decrease in price, but has maintained a 24 hour trading volume of $37,541,478 revealing it is a still used in the market. That means the price has been under pressure but traders and investors are still notably interested.
ALGOs 2025 Growth Potential
ALGO looks to see massive gains in 2025 as those same market trends continue to increase in popularity. The market has realized a short term negative breakout but is expected to fully bounce itself and a strong buying opportunity may arise. Volatility is to be expected in this current phase however it could potentially culmination in a bullish breakout in the future.
Algorands recent price action suggests that we are going thru a long term accumulation zone. Depending on market sentiment, short term volatility may remain but investors should plan to accumulate now for the anticipated significant growth in 2025. For those wanting to take advantage of the next ALGO Bullish Cycle, this correction phase is a great time to consider.
Read more: https://www.tronweekly.com/algorand-poised-for-long-term-accumulation/
Text source: TronWeekly
