Technical analysis by vf_investment about Symbol ALGO: Buy recommendation (9/7/2025)

hi traders Let's have a look at Algorand on the weekly time frame. To be honest, it's not what most traders expected as there's not much going on. After reaching 0,60ish high in December 2024, the price was in a strong downtrend but it's clear that it bottomed out in April 2025, but since then it's been a very steady but slow uptrend. 📊 Chart Overview Current Price: $0.229 Major Support: $0.156 Major Resistance: $0.416 Price is trading inside a rising channel structure since early 2025. 🔎 Technical Analysis Ascending Channel Price has been respecting both the lower and upper bounds of the rising channel. Trend Continuation As long as ALGO holds above $0.156 (key weekly support), the trend bias remains bullish inside the channel. RSI Status Weekly RSI around 49–50, sitting at neutral levels. No clear divergence, leaving room for further momentum in either direction. 🎯 Price Targets First Target: $0.30–0.32 (mid-channel resistance zone). Final Target: $0.41–0.42 (major resistance & channel top). ⚠️ Risk Management Stop-loss: Below $0.156 (breakdown of weekly channel support). Risk/Reward: ~1:2.5 toward $0.41 resistance. 📈 Trading Idea ALGO is currently consolidating inside a weekly ascending channel, showing steady higher lows. A bounce from current levels could drive price toward the $0.41 target zone, with interim resistance around $0.30. Failure to hold $0.156 support would invalidate the bullish setup.