Following a significant 45% price decline, Algorand (ALGO) is seeing heightened whale activity, with large transactions increasing by 166%. If ALGO can maintain above the $0.315 resistance level, it might aim for $0.45, supported by critical price levels.

Currently trading around $0.31, ALGO has shown a recent rise of 9.50%. The bullish sentiment is bolstered by strong interest from traders, evident in the increased open positions. Analysts indicate a strong possibility of a 50% increase if the momentum continues.