Skip the eyes of the parallel star-news.press/wp

Algo (Algo) signs of life appear again. The distinctive symbol increased by more than 58 % of its lowest level in June, supported by a classic dual -bottom pattern and renewed momentum across its network.

Since daily transactions, active addresses and Stablecoin activity, all two-number gains look forward to a possible outbreak towards the main resistance levels-although the way to full recovery still has obstacles.

Algo jumped for five consecutive days, reaching its highest level since May 23. It increased by more than 58 % of its lowest level in June, and slowly approaches the double neckline.

Galgrand’s distinctive code price jumped as third -party data showed that the Khawarzaf network was gaining strength among users. according to NansonThe number of transactions on the Khawsaf has jumped by 30 % in the past seven days to 5.8 million.

Likewise, the number of active addresses increased by 22 % to 78,766, while the fees created in the network increased by 25 % to $ 3.6,000. These numbers were very encouraging, and they even have been much lower than their peers.

Another noticeable scale that rose during the week was the stablecoin supplies, which jumped by more than 77 % in the past seven days to $ 120 million. Most of these Stablecoins were the US dollar currency, which had $ 118 million.

The price of the Khawsaf also increased with the rise in the open futures for futures to the highest point since February. She jumped to more than $ 110 million, up from $ 66 million in June.

However, the price of al -Khwazaf is still much lower than its height at all, while its role in the encryption market decreased. For example, Algofi, a Defi protocol that carries more than 55 % of its assets in July 2023, was not shown, and no new player appeared.

Likewise, Al -Khawarzaf recently lost a deal from FIFA, the Football Management Authority. FIFA will now launch its NFT initiatives using Avalanche, while a game was recently launched, FIFA, on Polkadot.

Technical analysis of the paranasy price

The daily chart shows that the ALGO price decreased to $ 0.1447 in June and formed a double -bottom style with a neckline at $ 0.2580. The double bottom is one of the most common signs of the upright reflection.

The distinctive code moves above the 78.6 % Fibonacci re -imitation level at $ 0.2168. He also jumped over the moving averages for 50 days and 100 days.

The Relative Power Index and MACD indicated above. Therefore, the price of algorithm is likely to continue to rise as the bulls target the main resistance level at $ 0.2580. Step higher than that resistance will indicate more gains to a 50 % decline level at $ 0.3612.