ALGOUSDT – Swing Trade Setup at Key Support

Algorand (ALGO) recently posted an impressive 29%+ rally, showing renewed strength in the altcoin space. After topping out, price is now pulling back into a significant support zone around $0.23, aligning with previous structure and demand levels.

This retracement could offer a high-probability long setup for swing traders. The support zone has historically acted as a launchpad for upside moves. A confirmation bounce or strong bullish candle from this area could lead to the next leg up.

🔹 Trade Setup:

Entry Zone: Around $0.23

Take Profit Targets:

🥇 $0.28 – $0.33

🥈 $0.45 – $0.50

Stop Loss: Just below $0.22

A daily close below $0.22 would invalidate the setup and suggest further downside. Watch for volume confirmation and price structure near the zone.