ALGO (Algorand) Altcoin Analysis. One More High in this Cycle?

ALGO: The price is currently testing the 61.8% retracement level, which is the last relevant support level for wave 4 in the white scenario. While the idea of a fourth wave pullback will not be invalidated below this level, other interpretations will become more likely. The orange scenario allows for the interpretation that a long-term price top has been established, but this is currently not yet seen as preferred scenario. A wider wave B correction would be a likely alternative, should the price break below $0.20. However, due to the questionable chart context, such as a 5-wave move down into the 2023 lows, I do not expect new all-time highs to be reached in this cycle.