Algorand price predictions may be shifting towards the bullish end as the network continues to establish new partnerships and attract new projects.
It has just been announced that Borderless Capital has secured a $10m capital injection from PLANETS.Fund to build a green data economy on the Algorand network. This will be a revolutionary project to monitor air quality using data warehoused on the Algorand blockchain.
Speaking on the project’s relevance in today’s world, CEO of Borderless Capital David Garcia said that PLANETS.Fund was established to provide air quality monitoring, with Algorand chosen as the preferred network due to it being the only carbon-negative blockchain.
The Algorand price is up 3.85% on the day, with most of the price action’s rise occurring in the latest 4-hour candle.
Algorand Price Prediction
The latest price burst is now testing the upper border of the ascending triangle, having violated the resistance at 1.7927. If the price breaks the triangle to the upside, the next target would be the 1.9069 resistance level. This would mark the completion point of the pattern. An upward extension of this move would bring 1.9840 into the mix, with 2.0748 serving as an additional resistance level.
On the flip side, rejection at the triangle’s upper boundary maintains the integrity of the 1.7927 resistance. It also returns the price action to the opposing border, where a breakdown opens the door for a test of the 1.6971 support. If the bulls leave this support undefended, 1.5992 becomes an additional target to the south.