Technical analysis by AtresCryptoAcademy about Symbol ALGO: Buy recommendation (7/17/2025)

ALGOUSDT Daily Chart Analysis | Momentum Picks Up on Higher Timeframe 🔍 Let’s break down the latest ALGO/USDT daily chart, highlighting a shift in market structure and key bullish signals. ⏳ Daily Overview A decisive breakout above the long-standing descending trendline has flipped the narrative for ALGOUSDT. Increased volume during the breakout points to robust bullish momentum, suggesting buyers are regaining control at this multi-month inflection point. 🔔 Flag Pattern & Chart Structure - Bullish flag pattern is emerging after the recent breakout, as price consolidates in a tight range—a classic continuation formation. - Former trendline resistance is now acting as support, confirming a notable shift on the higher timeframe. 📐 Fibonacci & Target Levels - The 0.236 Fibonacci retracement at $0.2771 is providing immediate support, with price consolidating above this anchor level. - Upside targets: - First resistance at $0.3080, which aligns with horizontal supply and previous pivot highs. - If the flag pattern resolves upward, the next Fibonacci extension points to $0.4900, marking a significant confluence and potential for further gains. 📊 Key Highlights - Strong daily candle and surging volume confirm momentum shift. - Watch the developing flag pattern for breakout confirmation. - Major trendline break on the daily signals structural reversal. - $0.3080 is the immediate target; $0.4900 is the extended objective from the flag/Fibonacci alignment. 🚨 Conclusion ALGOUSDT is setting up a compelling bullish scenario—keep a close eye on price behavior at the flag and $0.3080 level. A breakout may trigger the next impulsive move toward $0.4900.