Is Algorand ready to hit the $013 mark?

Current Status: ALGO is trading at $0.1063, with a recent overnight jump of 4.72%.
Resistance Level: The $0.1085 mark serves as a significant resistance level for ALGO.
Technical Indicators - MACD: Rising MACD and signal lines, along with growing bullish histograms, indicate increased buying pressure.
Technical Indicators - EMA: The bullish breakout of the 50-day EMA suggests a possible golden crossover with the 200-day EMA.
Recent Performance: ALGO has broken its short-term downtrend, rising from $0.088 and surpassing the 50-day EMA.
Potential Targets: If ALGO breaks the $0.1085 resistance, it could aim for $0.1327.
Downside Risk: A reversal from $0.1085 could lead to a drop to the 50-day EMA at $0.0987.
Market Sentiment: Overall sentiment is bullish, especially if ALGO can break the $0.1085 resistance.
Long-Term Trend: ALGO has reversed its short-term downtrend and is now showcasing a rounding bottom pattern.
Market Catalysts: The overall recovering conditions in the crypto market could boost investor confidence in altcoins like ALGO.
Long-Term Outlook: Algorand price predictions are optimistic, given the improving market conditions and technical indicators.