Because of El Salvador, Algorand (ALGO) Whip like Usain Bolt! - Kakiforex.com - Financial Market Media No. 1 in the World Because of El Salvador, Algorand (ALGO) Whip like Usain Bolt! Because of El Salvador, Algorand (ALGO) Whip like Usain Bolt!
InstaForex

September 10, 2021

Because of El Salvador, Algorand (ALGO) Whip like Usain Bolt!

 Algorand is one of the few digital currencies to show a positive growth rate in the last 24 hours.


With a market limit of over $ 10 billion, Algorand is among the top 20 currencies in the world. Algo Coins has a 24 -hour trading volume of over $ 4 billion and has seen an increase of almost 50% over the same period.


Algo shows an increase of more than 50% from the lower value. However, Algorand has yet to reach an all -time high (ATH) of $ 3.28 on June 21, 1019.


Among the factors that support the continued rise in prices is that the country of El Salvador has partnered with Koinbanx to leverage the government's blockchain infrastructure on Algorand technology.


El Salvador is working with @koibanx to leverage #Algorand for government blockchain infrastructure. Felicidades to the Koibanx team on their continued progress in #LatAm!


👉 https://t.co/4G1162TF1D pic.twitter.com/yPrHhcmJBd


- Algorand (@Algorand) August 31, 2021


Latin American asset tokenization company and financial infrastructure company Blockchain, announced that it has signed a cooperation agreement with the government of El Salvador, a sovereign country that uses U.S. dollars and Bitcoin to expand its blockchain infrastructure on top of Algorand technology.



Next, look at the ALGO/USDT chart.


When Algo’s analysis article was released last June, Algo was trading above the $ 1.0 price level, consistently Algo had produced almost a 120% jump reaching a high of $ 2.19 in today’s trading session.


From a technical point of view, ALGO is seen to remain in positive movement and is working to head back to the $ 2.1 resistance zone.


For further expectations, if Algo remains positive, the $ 2.1 resistance zone will be retested before making a higher rise.


However, if the Algo price movement does not manage to maintain a positive movement, the $ 1.9 RBS (resistance become support) zone will be tested first before continuing to decline to lower levels.


At the time of writing, Algo is trading at the $ 2.0 price level jumping over 23% in the last 24 hours. The coin is currently ranked 17th in the crypto chart.