Algorand is Primed for a Breakout ($ALGO)

Algorand ($ALGO) is a fully decentralized blockchain network, designed to provide secure and efficient solutions to finance applications, at scale. Algorand held an initial coin offering (ICO) in 2019, initially pricing the blockchain's native token, ALGO,  at $2.40 -- The price fell rapidly in the following months, eventually bottoming out -95% lower at ~$0.10.
Although ALGO tokens enjoyed health gains in the first half of 2021, the price truly exploded higher in September. After the government of El Salvador announced they would be using the Algorand blockchain to help integrate cryptocurrency into its banks and financial institutions, the ALGO market cap grew by $5B in a matter of days.
Underlying investor chatter surged alongside the price of the token and has remained near the ATH, currently trending +197% QoQ (30d MA).

Because ALGO's recent run reversed near its ICO price,  the price chart now shows a tantalizing cup-and-handle pattern forming.
A breakout to new highs isn't guaranteed, and technical analysis is notoriously unreliable for crypto. Nonetheless, the inherent utility of the underlying technology makes ALGO an incredibly attractive investment at the current price.