I’ve just noticed the recent ALGO fever in the past few days. The coin has risen quite strongly over the past week, from $0.079 to $0.11, equivalent to about 40% in profit. A price surge like this hasn’t happened since last summer—it’s truly surprising.

It seems there are a few reasons why the market is paying attention to Algorand right now. First is the Quantum AI research paper from Google that was just released, which mentions Algorand as one of the leading networks in the field of cryptography designed to resist quantum threats. Second, Revolut has just enabled ALGO staking for users, which creates additional demand and makes holding the token even more attractive. On top of that, Algorand is building a strong position in the real-world asset (RWA) sector, with more than $425 million tokenized on the network.

But I also see some warning signals. Overbought indicators have appeared, and there are signs that profit-taking is underway. The amount of money withdrawn from the spot market in the first two days of April exceeded $2.25 million. In addition, open interest in the derivatives market has doubled to $81 million, which means long positions are accumulating and could face liquidation risk if there’s a sharp correction.

Overall, ALGO is currently priced higher than recent trends suggest, but it’s still a long way from its historical highs. If the market maintains its upward momentum, the next target could be $0.14. However, the market is still waiting for clearer signals from the global political environment to determine the long-term trend. At present, a short-term correction is quite likely.