Algorand price just pulled off one of those classic market fakeouts, the kind that shakes out weak hands before the real move starts.
Top analyst BATMAN reported shared on X that the recent dip below ALGO’s long-term trendline was nothing more than panic and FUD. And judging by how quickly it bounced back, that claim might just hold up.
On the daily chart, ALGO price briefly dipped below its ascending support, a level that’s been holding since mid-summer.
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For a moment, it looked like the structure had completely broken down. But instead of free-falling, price snapped right back above the trendline, reclaiming the zone almost immediately.
BATMAN called it a “shakeout wick,” and it’s easy to see why. That deep red candle flushed out overleveraged traders, while patient buyers stepped in to scoop up cheap tokens. It’s a move that often signals the end of a downtrend and the start of smart money accumulation.
Algorand Price Is Building a Base for the Next Run
Right now, ALGO is hovering just above the $0.17–$0.18 zone, a level that’s served as strong support multiple times in recent months. The structure looks clean: higher lows forming, trendline intact, and volume slowly creeping back in.
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BATMAN’s chart projects a steady climb toward $0.25, followed by a short pullback, then a breakout run toward $0.30 and even $0.40 if momentum picks up. It’s the kind of setup that can catch traders off guard, calm one week, explosive the next.
Why Traders Are Paying Attention
The resilience here is what stands out. Most coins that break support struggle to recover, but ALGO reversed within hours and closed back above the line. That kind of price action shows strength, and strength often attracts attention.
BATMAN summed it up perfectly: “This is where smart money accumulates.” After months of quiet trading and a brutal summer correction, the ALGO price might finally be back in accumulation mode.
If the coin holds above its trendline and breaks $0.30 with conviction, that’s when things could get interesting. For now, it’s a waiting game, but the chart suggests something big could be brewing.
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