Is Algorand (ALGO) on the Verge of Breaking Out?

The cryptocurrency market continues its fluctuating trend with Ethereum (ETH) experiencing a dip from its recent peak, settling around $4,300 after soaring to $4,954 earlier this week. This downward pressure is affecting other major altcoins like Algorand (ALGO), which has shown a 6% weekly decline. However, ALGO’s chart suggests a potential breakout signal that could signify the next big move in its price action.