This is my random guess for ALGO this cycle. I am predicting a short term high of around $5 by the end of January 2025 and a final blow off top somewhere between $15 and $20 by October/November 2025. The volume for this move is massive and it would be very unwise to fade it IMO. I also don't think this is just old retail coming back. It might be because of the rumour that Trump has said there will be no capital gains on US cryptos (they have all gone parabolic in the last few weeks) or it might be because there is some big news coming. ALGO has been focusing on institutional and government adoption whilst the other L1s have been focusing on retail - maybe it will host a CBDC or something equivalent...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.