<\/figure>\n\n\n\nHowever, since this surge, the ALGO token faced a rejection at its major trendline of $0.125. Furthermore, this also aligns with a major liquidity zone from a weekly bearish order block. This type of HTF order block is not an easy resistance to break through.<\/p>\n\n\n\n
<\/figure>\n\n\n\nIndeed, selling pressure intensified as the price approached this major resistance<\/strong>. Technical data shows that the RSI<\/strong> climbed to 74.52, signaling overbought conditions that favor short term profit taking. Additionally, ALGO formed a new daily bearish order block on April 6.<\/p>\n\n\n\nIf buyers manage to hold the line and break through the $0.125<\/strong> mark, a new bull run<\/strong> toward the $0.18<\/strong> zone is highly probable. Conversely, a bearish<\/strong> scenario would trigger a retracement<\/strong> back to the psychological threshold of $0.10<\/strong>.<\/p>\n\n\n\nIs Algorand positioning itself as a leader in quantum resistant blockchains?<\/h2>\n\n\n\n
However, this pump is no coincidence. Indeed, as pointed out by Lucky on X, Algorand could become a leading blockchain thanks to its resistance to the quantum threat. The analyst even envisions a pump up to $0.33.<\/p>\n\n\n\n\n