Market Overview for Algorand (ALGOUSDT): 24-Hour Price Action Summary

• Algorand (ALGOUSDT) drifted lower for most of the 24 hours before showing a modest rebound in the overnight session.
• Key support appears at $0.2540–0.2560, where price has found multiple floors and bounced off several times.
• Volume declined steadily through the afternoon, then picked up again in the late-night rebound, suggesting a potential short-covering wave.
• RSI remained in oversold territory for most of the day, hinting at a potential reversal, but momentum remains weak.
• A bullish engulfing pattern emerged near 0.2560 in the early morning, but it lacks follow-through strength to confirm a trend reversal.

Algorand (ALGOUSDT) opened at $0.2625 on 2025-08-11 12:00 ET, drifted to a 24-hour high of $0.2652, touched a low of $0.2512, and closed at $0.2577 at 12:00 ET on 2025-08-12. Total volume for the 24-hour period was 43,192,960.0, and total turnover amounted to $11,111,094.62.

Structure & Formations

The 24-hour candlestick pattern on ALGOUSDT displays a complex bearish-to-neutral shift. Price initially formed a broad bearish decline from $0.2625 to a low of $0.2512, finding a strong floor in the $0.2530–0.2550 range. In the overnight hours, a small but notable bullish engulfing pattern appeared just above $0.2560, hinting at a potential reversal. However, the pattern lacks a strong close near the high and has yet to be confirmed by follow-through volume or momentum. A doji formed around 0.2532 as well, suggesting indecision at that level.

Moving Averages

On the 15-minute chart, the 20 and 50-period moving averages are closely aligned, with price oscillating just below both for much of the session. This indicates a consolidation phase after a sharp pullback. On the daily chart, the 50-period MA is bearish relative to the 100- and 200-period lines, reinforcing the medium-term bearish bias. Price has yet to break above the 50-period line in the short term, suggesting continued pressure to consolidate or trend lower.

MACD & RSI

The 15-minute MACD moved from bearish divergence to a neutral to slightly bullish crossover in the overnight hours, supporting the small rebound. However, the histogram remains weak, showing that bullish momentum is not yet strong enough to reverse the trend. RSI spent most of the day in oversold territory, dipping below 30 for several hours, and briefly rose above 45 in the early morning. While this suggests the potential for a rebound, it also indicates that the move may be overextended and lack conviction.

Bollinger Bands

Bollinger Bands show a moderate contraction in the late afternoon, followed by an expansion in the overnight session, aligning with the price rebound. Price has spent most of the 24 hours below the lower band, indicating oversold conditions. The current price at 0.2577 resides near the middle band, suggesting a potential equilibrium point. A sustained close above the upper band would require a strong reversal in the coming 24 hours.

Volume & Turnover

Volume was highest during the early morning rebound, with a spike above $0.2560, where price found strong support. The volume during this rebound was significantly higher than during the bearish phase, which could indicate short-covering and a potential turning point. However, turnover was not high enough to confirm a strong reversal. The divergence between the bearish price action and relatively higher volume in the final hours suggests that buyers may be stepping in but have yet to gain control.

Fibonacci Retracements

Applying Fibonacci to the 24-hour swing from $0.2652 to $0.2512 shows that price has tested the 61.8% retracement level at $0.2577 in the final hours. This level coincides with the recent bullish reversal and may act as a psychological support. A break below the 50% level at $0.2582 could trigger renewed bearish momentum.

While ALGOUSDT appears to have found a temporary floor in the $0.2560–0.2580 range, the overall momentum and volume remain cautious. Traders should watch for a sustained break above $0.2585 or a retest of the $0.2540 level for confirmation of the next move. A sharp reversal in the next 24 hours is possible but comes with significant downside risk if momentum fails to hold.