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Alogrand(ALGO) & Chiliz(CHZ) Price Spiked High As XRP Price Rallied This Week!

Alogrand(ALGO) & Chiliz(CHZ) Price Spiked High As XRP Price Rallied This Week!

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The price of XRP experienced a massive increase of over 40% in the last couple of days above $0.55. While a couple of popular altcoins also managed to post double-digit gains and forecast further significant upside.

Algorand (ALGO) price analysis

Algorand recently registered a significant spike in user base and Total Value Locked (TVL), after which the platform launched official FIFA World Cup-based NFT games. New addresses making their first ALGO event have increased from 5,000 to 20,000 per day in the past three months. Although the price faces a slight disturbance at $0.4, a bearish disturbance may soon see the bulls jump into action.

ALGO price in the middle of the recent price movement squeezed the descending triangle and rose high. Although the possibility of a correction is flickering, but the asset can hold tight at $0.36 and return above $0.4 before closing the day. However, reaching $0.42 could be the asset's primary target, which could clear the path towards $0.55 and clear the barrier at $0.5.

Chiliz (CHZ) price analysis

Chiliz price is now on a significant rise as whales have strengthened their holdings in the recent past. According to data from Intotheblock, the eight whales hold a total of 67.18% of all CHZ tokens, which is about 5.97 billion tokens. 49.7% of them are relatively inactive and only 17.48% are very active. On the other hand, investors own 15.73% of CHZ or 1.4 billion CHZ, while retail held 17.08% or 1.52 billion CHZ.

Chiliz is one of the tokens that has successfully regained its position, trading before the market crash in May 2022. Moreover, the asset is flashing huge bullish signals that could push the price over 22% to reach the important resistance at $0.32. The price has moved higher following the achievement of the cup and handle pattern, and after confirming the bullish trend, the asset may soon rise above $0.3.

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