🚀 Algorand (ALGO) Rockets Toward $0.35 as Fedwire Integration and DeFi Boom Fuel Demand

Fedwire's embrace of Algorand sends institutional interest into overdrive—just as DeFi protocols stack record TVL on the chain. The $0.35 resistance? Looking fragile.

Why TradFi’s late to the party (again)

Banks finally noticed Algorand’s 4-second finality beats waiting 3 business days for ACH reversals. Meanwhile, yield farmers quietly stacked 217% more ALGO in Q2.

The DeFi domino effect

New lending protocols bypass Ethereum’s gas wars by building on ALGO—TVL up 89% since March. Even Wall Street’s ‘blockchain consultants’ can’t ignore those numbers.

Target locked: $0.35

With shorts getting squeezed and staking APYs still juicy, this rally’s got legs. Unless, of course, the Fed ‘discovers’ crypto risks right after adopting it. *wink*

Algorand (ALGO) has captured significant market attention this week, driven by major developments such as the U.S. Federal Reserve's adoption of the ISO 20022 messaging standard, which recognizes Algorand as a compliant blockchain. DeFi activity on the network surged, with a 23% increase in Total Value Locked (TVL), while staking expansions on Binance and Crypto.com boosted investor confidence. Despite reaching a 4-month high of $0.30, short-term price corrections are anticipated due to overbought conditions.

The U.S. Federal Reserve's implementation of the ISO 20022 standard for its Fedwire system was a game-changer for Algorand. As a compliant blockchain, ALGO surged 11% to $0.30 on July 14, marking its highest level since March. This milestone enhances Algorand's appeal for institutional adoption.

Algorand's DeFi ecosystem saw a 23% increase in TVL, reflecting growing user engagement. Additionally, staking options expanded to Binance and Crypto.com, increasing accessibility for retail and institutional investors alike. With 1.95 billion ALGO staked across 3,700 nodes, the network continues to strengthen its decentralization.

Algorand now holds a commanding 70% market share in the Real-World Asset (RWA) tokenization sector, with $268.2 million in on-chain value. This dominance, coupled with a 137% surge in stablecoin supply, underscores the platform’s growing utility in bridging traditional finance and blockchain.

With the launch of Wormhole's Native Token Transfers (NTT), Algorand gained multichain interoperability, enabling seamless interaction with over 40 blockchains. This positions it as a key player in the evolving multichain ecosystem.

-: $0.30
-: $30,444,564
-: 85.25 (Overbought)
-: Strong bullish momentum with a histogram of 0.0122.

-: $0.26 |: $0.24
-: $0.25 |: $0.22
Algorand is trading above all major moving averages, a strong bullish signal.

-: $0.31 (Key level for breakout)
-: $0.29 (Pivot) | $0.17 (Major support)
-: $0.51 / $0.13

The upper Bollinger Band at $0.30 indicates ALGO is at the top of its range, suggesting a potential pullback due to overbought conditions.

With the RSI at 85.25, ALGO is in overbought territory, increasing the likelihood of a short-term correction. Traders should consider taking profits NEAR the $0.30 resistance level.

The breakout above $0.26 (SMA 7) and $0.24 (SMA 200) signals a shift to a bullish trend. Long-term holders could target $0.35 if ALGO sustains momentum above $0.31.

• Short-Term: A slight pullback to $0.28-$0.29 is likely due to profit-taking.
• Mid-Term: If ALGO breaks $0.31 resistance, the next target is $0.35.
• Long-Term: With growing adoption and DeFi activity, ALGO could test $0.40-$0.45 in 2025.

With RSI and Stochastic %K both exceeding 85, ALGO faces short-term price pressure. A correction may occur if bullish momentum wanes.

Broader crypto market trends, especially Bitcoin’s movement, could influence ALGO’s trajectory. Profit-taking by institutional investors may also impact prices.

Algorand’s recent developments, including ISO 20022 compliance, DeFi growth, and staking expansions, have solidified its position as a top blockchain. While short-term corrections are possible, the long-term outlook remains bullish, with $0.35 as the next key target. Investors should monitor resistance levels and macroeconomic factors to make informed decisions.

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