The transfer of 86.5 million ALGO, valued over 21.6 million USD, signals caution among investors. ALGO is currently fluctuating between support at 0.2200 USD and resistance at 0.2607 USD, indicating indecision in the market.
The pennant formation suggests a possible breakout, contingent on buyers defending key levels. A breach above 0.2607 USD could propel ALGO toward 0.2993 USD, while selling pressure could risk dropping below 0.2200 USD.
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