ALGO/USDT – Bull Flag Formation

hi traders

Algorand (ALGO/USDT) is showing a strong bullish continuation pattern following an impulsive price move upward.

🔍 Technical Overview:
Current Price: $0.2828 USDT

Pattern: Bull Flag

A sharp upward move (flagpole) is followed by a period of consolidation within a downward-sloping channel, forming the flag.

This is a classic bull flag pattern, often indicating a pause before continuation in the original trend direction.

Volume Profile:

Volume surged during the flagpole advance.

It has since tapered off during the consolidation, which supports the textbook flag setup.

📈 Bullish Breakout Expectation:
Once the price breaks above the upper resistance trendline of the flag, a strong continuation move is likely.

The projected target is approximately $0.3677, representing a ~29.9% upside from the breakout level.

This target is measured by applying the height of the flagpole to the breakout point.


Wait for volume confirmation to avoid false breakouts.

*Important:
Failure to break the flag’s upper boundary could lead to further consolidation or a retracement.