ALGO price in danger of 25% correction despite Algorand–FIFA partnership hype By Cointelegraph

Bank of Canada Start CBDC Research Collaboration With MIT
Spread the love

ALGO price in danger of 25% correction despite Algorand–FIFA partnership hype

Algorand (ALGO) prices rallied higher on May 3 after becoming FIFA’s official blockchain solution provider. Nonetheless, the pair continues to face selloff risks.

ALGO’s price jumped 20% to $0.74, its highest level since April 22. Its move upside came as a part of a broader rebound that started April 30, gaining 37.5% in just three days of trading.

ALGO/USD daily price chart. Source: TradingView
ALGO/USD daily price chart featuring resistance confluence. Source: TradingView
ALGO/USD daily price chart featuring breakout setup. Source: TradingView