Algorand (ALGO): Evidence of an Mini Alt Season

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Algorand (ALGO) looks to be joining in. ALGO may rise to 3600. That would be an attack of its "previous fourth." That is Elliot Wave vernacular for the point where a market started its final break lower. These points can act as a magnet as a new bull market begins. We think the fact that ALDO is above its 50-day moving average is another positive sign.

Bottom Line: If you see an alt that is rising sharply on a big day in Bitcoin (BTC), Mr. Market may be telling you that the alt in question is "high quality" alt. Go with momentum in these instruments until proven wrong.