Algorand Market Overview: 24-Hour ALGOUSDT Technical Summary

• Algorand (ALGOUSDT) declined 3.15% over the last 24 hours, closing at $0.2645 after hitting a 24-hour low of $0.2595.
• Momentum weakened as RSI dropped below 30 and MACD turned negative, indicating oversold conditions and bearish bias.
• Volatility expanded following a sharp pullback into the 0.2632–0.2641 consolidation range, with volume spiking on breakdowns.
• A key support zone emerged at $0.2615–0.2625; a break below risks testing $0.2595 and $0.2570. Resistance is at $0.2665.
• Bollinger Bands widened, and price action suggests potential for a short-term bounce if bulls reclaim the 61.8% Fib at $0.2661.

Algorand (ALGOUSDT) opened at $0.2729 on 2025-08-09 12:00 ET, hitting a high of $0.2756 and a low of $0.2595 before closing at $0.2645 on 2025-08-10 12:00 ET. Total volume over the 24-hour period was 20,957,381 units, with a notional turnover of $5.73 million.

Structure & Formations

Algorand’s price action formed a bearish consolidation pattern after breaking below the 0.2632–0.2641 range, with a sharp breakdown into support at $0.2615–0.2625. A long lower wick at $0.2645 and a hanging man pattern near $0.2655 suggest indecision. Key resistance is forming at $0.2665 and $0.2670, while support lies at $0.2615 and $0.2595.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bearish, with price closing below both. Daily moving averages (50, 100, 200) remain bearish, reinforcing the downtrend. Price may attempt a bounce off the 50-period SMA at $0.2630–0.2640, but confirmation above this level is needed for a reversal.

MACD & RSI

The MACD crossed below the signal line into negative territory, with bearish divergence suggesting further weakness. RSI dropped below 30, entering oversold territory, which may prompt a short-term bounce. However, divergence between price and RSI suggests the move down could continue if bulls fail to re-engage.

Bollinger Bands

Bollinger Bands widened significantly following the breakdown into the 0.2615–0.2625 support zone. Price is now trading near the lower band, which could provide a temporary floor. A sustained break below the band risks further downside toward the 0.2595 low and possibly the 0.2570 level.

Volume & Turnover

Volume surged during the breakdown into the $0.2615–0.2625 support zone, confirming bearish sentiment. Turnover spiked at key breakdown points, especially between 03:30 and 04:45 ET. A divergence between rising volume and falling price suggests lingering bear pressure, but a rebound may be supported if volume shrinks during upward moves.

Fibonacci Retracements

On the 15-minute chart, the most recent swing from $0.2756 to $0.2645 shows 38.2% retracement at $0.2685 and 61.8% at $0.2661. Price appears to be consolidating near the 61.8% level. On the daily chart, retracements from the broader move suggest support at $0.2600 and resistance at $0.2670.

Algorand (ALGOUSDT) appears to be in a bearish phase, with oversold RSI and bearish MACD suggesting further downside is possible in the short term. A rebound off the 0.2615–0.2625 support could test the 61.8% Fib level at $0.2661. However, if bears control the $0.2615–0.2625 zone, a further slide to $0.2595 and beyond cannot be ruled out. Investors should watch for volume confirmation or divergence during any bounce.