ALGO crypto rallies 72% in six weeks — Is another 150% possible?

For the second time since September 2025, the Algorand [ALGO] token price has surpassed its 20-week moving average. The first time was a week ago, and this week has started well.

ALGO crypto is up nearly 16% for the day, with a daily trading volume explosion of 204% and an Open Interest surge of 43%. Interest in altcoins over the month has been strong, with the altcoin market cap [including Ethereum] up 33% since the second week of August.

Though the spot CVD was rising to show steady spot demand, the funding rates had fallen into negative territory. This presented a short-term problem for ALGO crypto bulls.

The negative rates suggested the short trade was overcrowded, which pointed to short-term bearish expectations due to overextended market conditions. On the other hand, further price moves higher can liquidate these short sellers, resulting in a squeeze.

Which way is ALGO crypto poised to go in the long term?

A 72% rally in six weeks was a sign of intent, as was the price move back above the 20-week moving average. Yet, the price structure has been bearish since July 2025. The swing structure broke bearishly in late 2025 and has not been flipped since.

A weekly session close above $0.1456 would confirm a bullish swing structure reversal. If the buyers can achieve this, their next price target would be $0.336, the July swing high that is 150% higher than current market prices.