Market Overview: Algorand/Tether (ALGOUSDT) 24-Hour Technical Summary

• ALGOUSDT edged lower in 24 hours with a 0.1761 open to 0.1757 close.• Volatility and volume surged during the overnight bearish reversal.• Momentum indicators suggest cautious bearish bias with no clear overbought/oversold signals.

Algorand/Tether (ALGOUSDT) opened at $0.1761 on 2025-11-08 12:00 ET and closed at $0.1757 the following day. The pair reached a high of $0.1781 and a low of $0.1697 during the 24-hour period. Total trading volume amounted to 11,546,078.0 with a notional turnover of $2,018.96. The price action reflects a bearish bias, particularly in the latter part of the session.

Structure & Formations

ALGOUSDT displayed a bearish reversal pattern as it broke below key intraday support at $0.1760, confirming a potential downtrend continuation. A notable bearish engulfing pattern appeared at the open of 2025-1109 02:45, signaling a shift in momentum. The low at $0.1697 may serve as a critical support level for short-term buyers.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart suggest bearish divergence with price, as the 50-period line is above the 20-period line and price closed below both. On the daily chart, the 50-period and 200-period lines are in a bearish alignment, reinforcing the likelihood of further downside unless a strong reversal occurs.

MACD & RSI

The MACD showed a bearish crossover and remained in negative territory, supporting the downward momentum. The RSI hovered near 50, indicating a balanced but slightly bearish bias. No clear overbought or oversold conditions were observed during the 24-hour window, suggesting the move may continue until such levels are reached.

Bollinger Bands

Bollinger Bands reflected increased volatility as the price tested the lower band during the sharp overnight decline. The contraction in band width before the downtrend suggested a potential breakout, which materialized in bearish direction. Price now appears to be consolidating near the lower band, indicating a possible continuation of the downward move.

Volume & Turnover

Volume spiked during the overnight decline, especially around the 2025-1109 02:45 and 03:15 timeframes, confirming the bearish reversal. Notional turnover followed the same trend, aligning with price action. However, volume has decreased in the afternoon session, suggesting potential exhaustion of the current bearish wave.

Fibonacci Retracements

Fibonacci retracements from the recent high at $0.1781 to the low at $0.1697 show that the current price is near the 61.8% level at $0.1734, a key psychological support. A break below this level could target the 78.6% retracement at $0.1701. On the 15-minute chart, price is near the 38.2% retracement of the last bearish leg, which could offer a temporary floor.

Backtest Hypothesis

The requested backtest strategy could not be fully executed due to the unavailability of RSI data for ALGOUSDT. Typically, a “Buy on RSI(14) > 70, hold 3 days” strategy uses overbought conditions as sell signals. If applied here, it would need a valid RSI history. Until the dataset is corrected or an alternative ticker confirmed, the backtest cannot proceed. A comparable strategy could be applied to a similar, well-supported ticker if preferred.