Market Overview: Algorand/Tether (ALGOUSDT) on 2025-12-09

Summary
• Price action shows a 2.5% rebound after hitting a 24-hour low near $0.1321.
• Volume spikes occurred during key breakout attempts, with confirmation on the upside.
• RSI and MACD signal moderate bullish momentum, but overbought conditions remain absent.
• Bollinger Bands widened, reflecting increasing volatility in the final hours of the window.
• Fibonacci retracement levels suggest a potential target near $0.1364 for near-term buyers.

Algorand/Tether (ALGOUSDT) opened at $0.1321 on 2025-12-08 12:00 ET, reached a high of $0.1394, a low of $0.1316, and closed at $0.1374 on 2025-12-09 12:00 ET. Total volume amounted to 9.43 million ALGO, with a notional turnover of approximately $1.31 million across the 24-hour window.

Structure & Formations

The price action formed a bullish recovery pattern after a key support level at $0.1325 held. A morning breakdown attempt failed, followed by a sustained rebound on increased volume. A notable 5-minute engulfing candle confirmed the reversal.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed in favor of the bulls as price moved above both. The daily chart shows the 50-period SMA above the 100 and 200-period lines, suggesting a continuation of the longer-term trend.

MACD & RSI

The MACD line remained above the signal line throughout the day, with a strong bullish crossover occurring near $0.1350. RSI climbed from 35 to 58, indicating moderate momentum but not yet overbought levels, suggesting room for further upward movement.

Bollinger Bands

Bollinger Bands expanded significantly in the final 4 hours of the 24-hour period, with price moving toward the upper band. This suggests increased volatility and a possible continuation of the current trend into the next session.

Volume & Turnover

Volume spiked during the late afternoon and early evening hours, particularly between 15:00 and 16:45 ET, confirming the upward breakout. Turnover also increased in tandem with the price move, reducing the risk of a false signal.

Fibonacci Retracements

Fibonacci retracements from the morning low to the evening high indicate potential resistance at 61.8% ($0.1364) and 100% ($0.1394), with the former now in proximity to the current level. A break above could trigger more aggressive buying interest.

Looking ahead, Algorand/Tether appears to be in a short-term bullish phase, with support at $0.1325 and resistance near $0.1364. Traders should monitor for any breakdowns in volume or RSI divergence, which could signal a reversal.