ALGO rockets after striking FIFA Partnership

Algorand ALGO was one of Tuesday’s big gainers, as it was announced that FIFA would be partnering up with Algorand for the upcoming 2022 world cup.

The partnership will also see Algorand serve as an official sponsor for next year’s Women’s World Cup in Australia and New Zealand.

As a result of the news, ALGO/USD rallied to a peak of $0.7357 earlier in today’s session, and this comes less than 24-hours after trading at a low of $0.5824.

Overall, ALGO has now risen for a third straight session, however earlier gains have eased, as prices approached a key resistance point.

As of writing this, ALGO is now trading at $0.6652, as bulls have vacated earlier positions in order to solidify their gains.