Algorand (ALGO) is currently trading within a descending channel, a pattern often seen during short-term corrections. However, traders are anticipating a potential breakout above the upper resistance level and this could drive prices up by 100-150%. The rise would target the $0.30-$0.35 range as it breaks out of the established channel. This is based on increasing trading volume and consolidation near lower price levels. Algorand’s technical analysis suggests a potential reversal pattern, with each successive low attracting buying pressure. A confirmed breakout above the upper channel could signal a significant shift in market sentiment and could mark the beginning of a new uptrend.