Algorand (ALGOUSD) Market Overview: 24-Hour Price Action and Key Turning Points

• Algorand (ALGOUSD) traded in a narrow range for most of the day before a late-night sell-off brought price down to $0.243.
• A key support level was confirmed near $0.243–$0.245 following a consolidation and rebound.
• Volume spiked sharply in the 20:15–20:30 ET window, confirming a bearish break and strong distribution pressure.
• RSI and MACD indicated oversold conditions by the early morning hours, suggesting short-term exhaustion in the downtrend.
• Price closed near the upper Bollinger Band in the final hours, hinting at possible range expansion or reversal.

Algorand (ALGOUSD) opened at $0.2627 (12:00 ET - 1) and closed at $0.2489 (12:00 ET), with a high of $0.2627 and a low of $0.243. Total volume traded was 13,790.0 units, and turnover stood at approximately $3,498 (calculated from OHLCV data). The session featured a sharp breakdown in the evening hours followed by consolidation.

Structure & Formations

A bearish breakdown was confirmed when price broke below key support at $0.2545, with a 15-minute candle closing at $0.2434. This was followed by a consolidation phase before a strong rebound in the overnight hours. A bullish reversal may be forming near $0.243–$0.245, suggesting possible near-term support. No strong bullish patterns (e.g., hammer, bullish engulfing) were seen in the last 15 minutes, but a bearish engulfing pattern was observed between 20:15–20:30 ET.

Moving Averages

On the 15-minute chart, the 20-period and 50-period EMAs were aligned bearishly during the breakdown. Price closed above the 50-period EMA in the final hours, which could indicate a short-term reversal is underfoot. On the daily chart, the 50/100/200 SMA alignment is bearish, reinforcing that the broader trend remains down.

MACD & RSI

The RSI dipped below 30 in the early morning hours, signaling oversold conditions, while the MACD line crossed below the signal line at the time of the breakdown. This divergence may suggest that the immediate bearish momentum is waning. A potential MACD crossover above the signal line could trigger a short-term rally.

Bollinger Bands

Price closed in the final hours near the upper Bollinger Band, indicating expansion in volatility and suggesting that traders may be positioning for a breakout or reversal. A close above the upper band could trigger a short-term bullish continuation, while a retest of the lower band may signal exhaustion in the rally.

Volume & Turnover

Volume was muted for most of the session but spiked sharply in the 20:15–20:30 ET window with a 9,779-unit candle confirming the breakdown. Turnover was also elevated during this time, indicating strong distribution pressure. However, volume during the overnight rebound was light, suggesting a potential lack of conviction in the bounce.

Fibonacci Retracements

Fib levels from the key swing high at $0.2627 to the swing low at $0.243 suggest that the 38.2% retrace level is near $0.2548 and the 61.8% at $0.2517. Price may test these levels in the coming 24 hours as potential turning points.

Algorand may see a short-term reversal if the $0.2489 level holds and volume confirms a bullish bounce. However, a breakdown below $0.243 could signal further weakness. Investors should remain cautious and watch for divergences in volume and momentum indicators.