The month of February has been great for altcoins, with many smaller cryptos seeing intense upwards momentum that has allowed some to set fresh all-time highs, while others post significant gains against Bitcoin.<\/p>\n
This upwards momentum seen amongst many altcoins has led investors and analysts alike to grow increasingly keen on finding the next altcoin that will see a \u201cface ripping\u201d rally, and some analysts believe that Algorand could be this crypto.<\/p>\n
One top trader is noting that ALGO recently rallied up to a key level that bulls are currently attempting to close above, suggesting that it could soon rally.<\/p>\n
At the time of writing, Algorand is trading up just under 1% at its current price<\/a> of $0.45, which marks a notable climb from weekly lows of $0.30, and only a slight decline from highs of $0.49 that were set just a couple of days ago.<\/p>\n This volatility has come about after the token<\/a> saw a quiet start to the year, with its slow uptrend turning parabolic in late January when it rallied from $0.25 to its recent highs.<\/p>\n This uptrend has shown signs of being similar to that seen by Chainlink, Ethereum, and Tezos, at the early stages of their intense multi-week parabolic runs.<\/p>\n This has led some analysts, including The Crypto Dog, to question whether \u201cALGO is the next XTZ.\u201d<\/p>\n Is $ALGO<\/a> the next $XTZ<\/a>?<\/p>\n — The Crypto Dog\ud83d\udcc8 (@TheCryptoDog) February 20, 2020<\/a><\/p><\/blockquote>\n\n