🔥 ALGO Break Out Of Yearly Channel: Parabolic Move Ahead?

ALGO has been one of my favorite coins to trade in the last couple of months. Ever since it hit the lower support of the channel, ALGO has seen strong gains on a daily basis.

Today, however, marks a special day. Today ALGO broke out of the channel which it has been following for a year now, signaling a new potential parabolic move ahead.
To trade this, wait for the daily candle to close above the channel resistance.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on round numbers, $1.50 and $1.80 respectively. Do your own due diligence.

Happy trading!