$ALGO is in a clear long-term uptrend.
It is now retesting the bottom of the rising channel .
MACD has bullish divergence . MACD is starting to reverse while price continued to slide down on lower volume .
Stochastic in extreme oversold territory.

Algorand’s super bullish fundamentals will propel $ALGO to all new time highs.
Once escape velocity is achieved to all new time highs, $ALGO will then enter price discovery mode and break out of the rising channel for a parabolic move.

Major fundamental catalysts to provide the rocket fuel are:
1. Multitude of DeFi projects launching in coming months with no end in sight – amplified by incentive reward programs to bootstrap the DeFi ecosystem – TVL boom
2. Staci Warden as new Algorand Foundation CEO with aggressive marketing and PR strategy
3. Algorand protocol upgrades and TPS boost
4. Multi-chain bridges – Glitter, Applied Blockchain Ethereum London Bridge, C3 Protocol
5. Institutional and enterprise implementations – SkyBridge, NAX, UNLOX, real estate ( Vesta Equity, Homium, Lofty AI, QuantmRE, etc)
6. Government national initiatives