Algorand/Tether (ALGOUSDT) Market Overview

• Price declined sharply to 0.175 before rebounding to 0.1906.
• High volatility seen with a 0.105 range between high and low.
• Volume surged during the 21:00–22:00 ET sell-off.
• RSI and MACD showed bearish momentum early, then neutralized later.
• Price retested key Fibonacci levels and 0.190–0.191 resistance.

Algorand/Tether (ALGOUSDT) opened at 0.2125 on 2025-10-10 at 12:00 ET and closed at 0.1906 the next day at the same time. The price hit a high of 0.215 and a low of 0.1 (10:15 ET), with a total volume of 188,260,625.0 and turnover of 36,367,055.54. The pair exhibited a highly volatile 24-hour period.

Structure & Formations

The candlestick pattern was bearish early, particularly during the 19:30–21:00 ET window, when a large bearish engulfing pattern appeared as price dropped from 0.2092 to 0.1795 in a single 15-minute bar. A recovery from the 0.175–0.180 range formed a potential bullish reversal structure after 2:30 ET. Key support levels appear at 0.175, 0.180, and 0.186, while resistance is at 0.190–0.191. A doji formed at 0.192 at 09:45 ET, signaling indecision and possible consolidation.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart were below the price during the early sell-off and crossed during the recovery phase. The 50-period line provided a dynamic support near 0.180–0.182 during the bounce. On the daily chart, the 50/100/200-period averages are likely aligned below the current price, suggesting a longer-term bearish bias.

MACD & RSI

MACD turned negative sharply after 19:30 ET and remained bearish until 2:30 ET. A recovery in the MACD histogram began after 2:45 ET, signaling reduced bearish momentum. RSI bottomed near 20 at 21:15 ET and rose above 50 by 3:00 ET, indicating a shift toward equilibrium. RSI’s overbought condition has not been reached in the past 24 hours, but it is approaching 60 at 15:15 ET, suggesting caution.

Bollinger Bands

Price traded outside the lower Bollinger Band for most of the 19:30–22:45 ET period and returned inside the band after 2:30 ET. The 20-period bands expanded significantly during the 21:00–21:45 ET sell-off before narrowing during the rebound. Price is now trading near the upper band at 0.190–0.191, indicating a potential for consolidation or another pullback.

Volume & Turnover

Volume spiked dramatically during the 19:30–21:45 ET period, with a single 15-minute candle at 21:00 ET showing 12,477,087 volume. This coincided with a sharp drop from 0.2081 to 0.1929. Volume during the recovery phase after 2:30 ET was more moderate, suggesting a weaker bullish case. Notional turnover also spiked during the 21:00–22:00 ET window, reflecting heightened trading interest during the sell-off.

Fibonacci Retracements

Key Fibonacci levels were tested following the 0.208–0.1795 swing. The 61.8% level at 0.186 and 38.2% level at 0.192 were both relevant during the recovery phase. Price currently sits near the 0.190 level, which aligns with the 38.2% retracement and a prior resistance level. A break above 0.191 may signal a test of the 0.192–0.193 zone before facing 0.195 as the next hurdle.

Backtest Hypothesis

Given the recent behavior of ALGOUSDT, a potential backtesting strategy could involve entering long positions on a breakout above 0.191 with a stop-loss placed just below 0.186 and a take-profit target at 0.194–0.195. This approach would capitalize on the Fibonacci retracement and prior resistance levels as potential confluence points. Short-term traders may also consider shorting on a retest of 0.186 with a stop above 0.189 and a target at 0.182–0.184. These levels and setups align with the observed RSI and MACD dynamics, making them suitable for a structured trading hypothesis.