eldeoy

Algorand has finally caught an upward spike after being rather stable at its lowest value for close to 2 years. In the current Alt market, people are looking for:- Relatively small market cap- Previous ATH to be much higher than current value- A long stable bottom, but a good sign of upwards potentialAlgo was tricky for a long time, skipping most of the upwards trend so far until now, exploding with a big move. This can also be worrisome as a correction usually follows big moves like this. Here is why I dont think a correction will actually follow: - Trading volumes are mostly for buys above the 0.30$ mark- Most volume was between 0.37-0.47, with a lot of selling happening there It does seem like most people are just getting on the ride.Things to be careful about: - Algorand does not have the same amount of currency in circulation now as it did back in 20222022: 6.95B2024: 8.3BWhich does mean that its nearing its full amount of market cap/currencies in circulation, but people have been staking Algo for a few years now and receiving Algo according to the release schedule. I expect people to partially sell as Algo hits the 0.70$ and the 1$ marks. If you plan to hold Algo long term, careful not to buy too much above those numbers for now, as a large correction will be very likely.Its not at all unlikely that Algo can print an ATH during this run, lets see what December brings us.Good luck trading, and don't forget to place targets and stop losses.And remember, this is not a financial advise, trade at your own risk.