Cryptocurrencies Price Prediction: Algorand, Cardano & Decentraland — Asian Wrap 04 Feb

Algorand price to rally 25% as ALGO readies to break consolidation

Algorand price has started coiling up below a stiff resistance barrier after the crash in January. As a result, ALGO has been tightly wound, suggesting a breakout to trigger a quick run-up soon. Algorand price has tagged the $1 local resistance barrier thrice over the past 11 days.

Cardano witnessed strength at $1 support as ADA awaits move to $1.42

Cardano price continues to hold on to the $1 value area as its primary support zone. A massive amount of buying within that value area has occurred over the past ten days, with more accumulation occurring every day. The net result of this buying behavior is an anticipated rally.

Decentraland price forms a dead-cat bounce, 18% correction on sight

Decentraland (MANA) is a bit of an outlier as it is up for the day, where most significant cryptocurrencies pairs are down. The risk at the current price action is that bulls could get caught in a bull trap or a dead-cat bounce after the dip from the past two days.