# HasTheMarketBottomed

Algorand (ALGO) recently emerged from a long-term downtrend, indicating the potential for a change in market sentiment. This asset has consolidated within a descending wedge pattern, facing persistent resistance that has hindered significant upward spikes. However, a successful breakout has occurred, indicating a potential recovery. This breakout, as seen on the chart, shows ALGO surpassing the trend line, with an initial target of around 42.94% gain from its breakout level.
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