**Hodl, dear members of LeoFinance!**

Today I would like to comment on the price chart of **Algorand**.

In the daily chart (1D), ALGO/USD has dropped to the level of the previous local highs:
![24.09.2021 ALGOUSD 1.jpg](https://images.hive.blog/DQmaZ1QK9ZGewFyJ8QQE6TopZZZdNjzT8ZVKGj8VDDRm3Zo/24.09.2021%20ALGO-USD%201.jpg)
Theoretically, this is a support level for the price of Algorand. Also, as can be seen from the chart, right now, the 30-day Moving Average is at that level as well. So, this is additional support for the price. 

Moreover, in the 4-hour chart (4H), ALGO/USD has formed a Bullish Flag (common trend continuation pattern):
![24.09.2021 ALGOUSD 2.jpg](https://images.hive.blog/DQmTQ2knQP32Jf7VmA9YwrZPF5Xtz7KDfKnjky7BGWroPLA/24.09.2021%20ALGO-USD%202.jpg)
That is why if a breakout *(in the upward direction)* takes place the uptrend may resume.

To be continued ...

*As of the time of writing, one ALGO costs 1,73 on the Binance crypto exchange, according to TradingView.*

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**A few words about me:**

*Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.*

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**Important!**

**Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.**

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Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@cryptospa/daily-ta-algorand-algo-usd-or-24-09-2021)