Foreign media analysis suggests that although Algorand has recently faced pressure along with the broader market, its price remains about 15% higher than its low at the end of March. The current market focus is on whether ALGO can hold the support range of $0.092 to $0.088 and further drive the rebound.
Prices remain within key structures
From a chart structure perspective, ALGO is still trading within symmetrical triangles and cup and handle patterns. The article argues that these patterns are generally considered bullish signals, but only if the price breaks through the downward resistance line can the rebound structure be confirmed.
If buying pressure continues to hold the current support level, ALGO may retest the upper resistance zone. If it encounters resistance again after rising, the price may fall back to the lower edge of the symmetrical triangle. If it breaks below $0.088, both of the aforementioned bullish structures will be invalidated, and the risk of further downside will increase.
Indicators show that buying activity has recovered somewhat.
From a technical perspective, the MACD recently formed a golden cross, meaning the MACD line broke above the signal line. The article argues that this typically indicates strengthening buying momentum. Simultaneously, both lines are approaching the zero axis; if they continue to rise, market expectations for a rebound may further intensify.
However, the RSI is currently hovering near the neutral zone, indicating that the balance of power between buyers and sellers has not yet been significantly disrupted, and the short-term direction remains unclear. In other words, while the ALGO indicator has shown some signs of recovery, the market may still fluctuate between rebounds and pullbacks.
Whales and capital flows remain short-term variables.
The article points out that ALGO's short-term trend still largely depends on the participation of whale accounts. The current difference between whale and retail activity indicates that large holders remain the main trading force, meaning that unless more whales enter the market or retail demand rebounds significantly, buying power may remain limited.
Spot fund flows have not fully recovered. Over the past 15 days, ALGO has recorded a net outflow of approximately $1.75 million, following a larger sell-off of approximately $29.23 million previously. Overall, ALGO has shown initial signs of recovery, but whether the support level can hold and whether whales continue to dominate buying remain two key points to observe in determining its future trend.
