Algorand (Binance: ALGOBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Algorand began a wave one advance on August 1. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on August 2, and the red wave two (blue sub-waves a-b-c) correction ended on August 8. If this wave count is correct, Algorand should be heading next towards the August 2 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Algorand is a public, permissionless, pure proof of stake blockchain that ensures full participation, protection and speed within a truly decentralized network. Boxmining covered the project earlier this week.
(Sources: Algorand and YouTube)
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