Market Overview for Algorand/Tether (ALGOUSDT) as of 2025-09-18

• Price climbed from 0.2334 to 0.2468, then consolidated near 0.2446 at 12:00 ET.
• A bullish breakout followed by consolidation suggests potential for resistance testing at 0.246–0.247.
• Volume surged during the early ET hours, confirming the bullish move.
• RSI reached 60, signaling moderate momentum, not yet overbought.
• Bollinger Bands have recently widened, reflecting increased volatility.

Algorand/Tether (ALGOUSDT) opened at 0.2334 on 2025-09-17 12:00 ET and reached a high of 0.2468 before consolidating at 0.2446 as of 12:00 ET on 2025-09-18. Total volume for the 24-hour period was 104,781,351 ALGO, with notional turnover of $25,176,529. Price action reflected a strong bullish breakout during the early ET hours followed by measured pullbacks.

Structure & Formations

Price formed a bullish breakout above key resistance at 0.245 followed by consolidation in a tight range between 0.2443 and 0.2458. A doji formed around 0.2443 at 06:30 ET, suggesting indecision after the rally. The swing high at 0.2468 on 22:45 ET could become a near-term resistance level. Immediate support levels are at 0.2442 and 0.2435, with a 61.8% Fibonacci retracement at 0.2438 reinforcing the latter. A break below 0.2426 could trigger further tests of 0.2401, the prior consolidation level.

Moving Averages

The 15-minute 20SMA is currently at 0.2448, with the 50SMA at 0.2441, indicating a bullish crossover. On the daily chart, the 50DMA is at 0.2405, while the 200DMA is at 0.2373, suggesting a renewed upward tilt in trend if the 50DMA continues to rise and ALGOUSDT remains above it.

MACD & RSI

The MACD has turned positive since 19:00 ET and remains in bullish territory, with the histogram showing increasing momentum. RSI reached 60 at 02:15 ET, indicating moderate bullish momentum, with no signs of overbought conditions as of yet. A move above 63 would signal accelerating buying pressure and could indicate a potential continuation of the rally, especially if the 0.2468–0.2470 range is retested.

Bollinger Bands

Bollinger Bands have widened following the breakout, confirming the increase in volatility. Price has spent the last three hours consolidating near the middle band, suggesting a potential resumption of upward momentum. A move beyond the upper band would confirm a stronger bullish bias, but for now, the price is showing respect for the upper boundary.

Volume & Turnover

Volume spiked during the 18:00–19:30 ET period, reaching a peak of 1,146,922 ALGO at 18:15 ET, coinciding with the breakout above 0.245. The notional turnover during this period peaked at $278,215. However, after 22:30 ET, volume has declined, suggesting profit-taking or reduced conviction. The price-volume divergence post 22:30 ET indicates increasing caution among buyers, and a further consolidation phase is likely.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing high at 0.2468 and swing low at 0.2332, the 38.2% level is at 0.2395, the 61.8% at 0.2438, and the 100% at 0.2484. Price is currently near the 61.8% level, reinforcing 0.2438 as a potential support zone. A rebound from this area with increasing volume may confirm the resumption of bullish momentum.

Backtest Hypothesis

Given the recent bullish breakout, MACD confirmation, and RSI neutrality, a backtesting strategy could be constructed that triggers a long entry at 0.245 with a stop-loss at 0.2426 and a take-profit at 0.247–0.248, based on the Fibonacci 61.8% to 100% level. This strategy relies on momentum confirmation, volume spikes during the breakout, and price staying above the 50SMA and 50DMA as filters for position initiation. It aligns with the observed price behavior and structure, and if tested on prior 15-minute data, it would aim to capture trend-following gains in a low-volatility consolidation phase.