Following 4/15/2021 7:32:33 AM GMT Algorand price is traversing a bullish pennant, hinting at an 85% upswing to $2.83. A decisive close above $1.53 will signal a breach of the pennant’s upper trend line. ALGO will kick-start a new downtrend if it slices through the 50% Fibonacci retracement level at $1.03. Algorand price is trading inside a bullish consolidation pattern that forecasts massive gains. Algorand price edges closer to breakout Algorand price has been consolidating in a bullish pennant, composed of an initial burst in the market value followed by the formation of lower highs and higher lows connected using trend lines. The continuation pattern projects an 85% advance to $2.83, determined by adding the flagpole’s height to the breakout point at $1.53.