The new year’s rally saw ALGO rise from $0.1616 to $0.2407, making it close to the December high. Although the rally offered about 50% gains, it wasn’t close to pre-FTX levels.
That would be a 25% potential gain in the next few weeks. But bulls must overcome the hurdle around $0.2612 – $0.2678 and the bearish order block at $0.2407. According to Santiment, development activity on the Algorand ecosystem has increased since the start of the year. This could boost investors’ confidence in its native token, ALGO, and increase its price in the long run.
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