Strong demand zone

ALGO is in an uptrend and is currently approaching a strong demand zone. This area can act as significant support, potentially driving the price upwards. The price is moving slowly within this demand zone, which may indicate the market’s attempt to attract new buyers.

One possible scenario is that the price finds support in the demand zone and, after observing sufficient confirmations, moves upwards. This movement could indicate the continuation of the uptrend and the potential for further price growth.

Another scenario is that the price stabilizes after reaching the demand zone, and after observing strong confirmations, it moves upwards. This scenario suggests that demand is being absorbed in this area, leading to a new upward move.