Connect with us

Bitcoin

Is it possible to buy Algorand before the World Cup if you have a sponsorship deal?

It is only 5 days until the World Cup begins. Big corporations will be trying to get their attention, even as the world gazes at their favorite football players. Algorand is an example of such an organisation. In May, Algorand became the first blockchain partner of the FIFA World Cup. This platform will offer a…


It is only 5 days until the World Cup begins. Big corporations will be trying to get their attention, even as the world gazes at their favorite football players. Algorand is an example of such an organisation.

In May, Algorand became the first blockchain partner of the FIFA World Cup. This platform will offer a blockchain-supported wallet to the event. Algorand is expected to be onboarded to help develop FIFA’s digital strategy. But as the World Cup kicks off on November 20, Algorand will feature strongly in the media and promotional materials.

While Algorand (ALGO/USD) responded positively to the news of sponsorship of this year’s event, it is trapped by a bear crypto market. However, recent price action signals a potential price recovery ahead of the November 20 kickoff.

ALGO attempts to break above the $0. 28 resistance

ALGO/USD Chart by TradingView

According to technical outlook, ALGO trades around the $0. 28 resistance, with a strong bullish push. The token has 13% gains in the day, signalling a potential bull rally.

Following the technical indicators would be disappointing for cryptocurrency. ALGO is resisted by the moving averages. Although the RSI is showing an increase in momentum, it remains below its midpoint. Bears still control cryptocurrency.

Should you buy ALGO now?

The closing of the daily candlestick will reveal if an ALGO breakout has been achieved. The price of the token will be affected by the World Cup, which is an important event.

A successful breakout will be confirmed if the daily candlestick closes above $0.28. You could buy ALGO if that happens, coupled with strong momentum.

On one side, the candlestick may close below resistance. The bear case should be avoided by buyers.

Where to buy ALGO

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users have the ability to connect with, learn, copy, or get copied from other users.


Buy ALGO with eToro

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

Bitstamp, which is fully regulated, offers users an intuitive interface and high levels of security for digital assets. It also provides excellent customer support.


Get ALGO with Bitstamp


Share this article

Categories

Tags

Read More

Continue Reading
Advertisement I show You how To Make Huge Profits In A Short Time With Cryptos!
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

Max Keiser Warns of Government Seizing Bitcoin in ETFs — Predicts 1987-Style Crash as BTC Rises to $500K

Bitcoin proponent Max Keiser has warned of potential government seizure of bitcoin held in spot exchange-traded funds (ETFs). He additionally issued a stark warning about a looming 1987-style crash, while simultaneously predicting that the bitcoin’s price will surge past $500,000. Max Keiser’s Crash and Bitcoin Seizure Warnings Bitcoin advocate Max Keiser expressed concerns about spot [……
Read More

Continue Reading

Bitcoin

Satoshi Correspondence Revealed by Witnesses in Legal Clash Against Craig Wright

In the unfolding lawsuit between the Crypto Open Patent Alliance (COPA) and Craig Wright, three key witnesses who had early interactions with Bitcoin’s creator, Satoshi Nakamoto, provided their testimonies. Among them were early Bitcoin developers Martti Malmi and Mike Hearn, as well as Adam Back, the creator of Hashcash…
Read More

Continue Reading

Bitcoin

Lumerin Announces New Integration With Portal DEX for Decentralized Bitcoin Mining and Cross-Chain Hashpower Trading

PRESS RELEASE. CHICAGO – Feb 22, 2024 – Lumerin, a decentralized Hashpower Marketplace built on Arbitrum that has built technology to make Bitcoin hashrate a liquid asset allowing for global access to peer-to-peer, decentralized hashrate trading, today announced a new integration with Portal, the first trust minimized…
Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.