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Algorand price shot up 21% on Friday, April 3, becoming the top gainer of the day, bucking the relative stillness of the broader crypto market that has gone cold amid the escalating war situation in the Middle East. Algorand ( $ALGO ) price rallied to a 9-week high of $0.122 on Friday before settling at $0.121 at press time. Its gains pushed it to become the leading gainer among the top cryptocurrencies by market cap in both the daily and weekly timeframes. There are three main reasons why Algorand price rallied today. First, Algorand was recently cited by Google Quantum AI in a research paper focused on threats faced by major blockchains from quantum computing. The paper made several mentions of Algorand for its post-quantum security and advanced Falcon signature technology, placing it ahead of other major players and trailing only behind Bitcoin and Ethereum. This citation from one of the most prominent tech labs gave the project a big push to new investors while increasing hype for existing ones. Second, Revolut has officially enabled staking for Algorand on its platform. This enables its customer base of over 70 million investors to stake ALGO directly from the app. The move has increased investor demand for the token as it triggered a jump in the total amount being staked on the platform, effectively removing those tokens from circulation and hence lowering potential selling pressure. Third, Algorand’s rebound follows the token hitting an all-time low just five days ago. The token dropping to its floor likely made it very attractive for buyers who bought the dip following its high-profile citation. Algorand price analysis On the daily chart, Algorand price has formed a multi-month falling wedge pattern. Following its recent rebound, it has broken out from the upper trendline of the pattern, thereby confirming a bullish reversal. When such patterns are confirmed, the asset often enters a period of sustained growth. At press time, a similar bullish outlook for ALGO was supported by technical indicators. Notably, the Supertrend has turned green, a notable sign of a trend shift. The Chaikin Money Flow index read 0.19, a strong positive reading hinting that buyers are in control. For now, $0.139, which sits at the 23.6% Fibonacci retracement level, is the most immediate resistance level to keep an eye on for identifying more upside. A decisive break above that could potentially trigger a rally to $0.225, a target calculated by adding the height of the wedge to the point at which the breakout occurred. On the contrary, a drop below the $0.085 support level can invalidate this bullish setup.

$ALGO /USDT LOng Setup Entry: 0.1100 – 0.1190 TP1: 0.1225 TP2: 0.1350 TP3: 0.1500 SL: 0.0980 Broke out hard from months of base. All MAs flipped bullish. Volume surging. Pullback to MA7 = perfect add zone.

$ALGO - Mcap 1.05B$ - 149.6K votes Bullish SC02 M5 - pending Long order. Entry lies within HVN + is not affected by any weak zone, the current support zone is approximately 2.82% wide. The uptrend has been ongoing for 10 hours 30 minutes, with the maximum recorded price increase of 16.71%. If price loses this support zone, the trend will most likely reverse to the downside. #TradingSetup #CryptoInsights

🤔 Why is the crypto market going up today? (April 1) The crypto market recovered for the second straight day, rising 2.1% over the past 24 hours to $2.45 trillion on Tuesday. Bitcoin, the bellwether asset, rose 2.4% to a six-day peak of $69,000. Ethereum price was up 4.2%, back above $2,100, while other major crypto assets such as BNB, XRP, Solana, and Dogecoin posted gains between 1-3%. Some of the best performers of the day were Algorand (ALGO), Stable (STABLE), and Zcash (ZEC), which led gains of 20.5%, 16%, and 8% each. 🔸 Crypto market rises as Trump’s Iran update fuels risk-on sentiment The latest market recovery comes as reports suggest that U.S. President Donald Trump will provide an important update on the ongoing tensions with Iran later at 9 PM ET today. This anticipation comes just a day after reports emerged that Trump was considering ending the U.S. war with Iran in the Middle East, even if the Strait of Hormuz remains closed. The blockade in the key maritime corridor has led oil prices to surge to multi-year levels, which contributed a big part to deteriorating investor demand for risk assets as they flee to safe-haven assets such as gold and U.S. equities. Meanwhile, a contrasting narrative came from a report by the Wall Street Journal, which indicated that several nations, including the UAE and Saudi Arabia in the Gulf stream, are pressuring the U.S. to continue its war against Iran as they try to force open the strait. The Iranian government, for its part, has stated that the country will end the war only if certain conditions are met; these include full compensation for the wartime damages incurred. All this combined makes Trump’s speech today a high-stakes event for global markets. Investors are likely pricing in Trump’s potential plan of looking into ending the war, although details of his speech today remain sparse at the time of writing. #Crypto