Market Overview for Algorand/Tether (ALGOUSDT) - 2026-01-07

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Wednesday, Jan 7, 2026 11:19 am ET1min read
ALGO
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Aime RobotAime Summary

- ALGOUSDT traded between 0.1353 support and 0.1431 resistance, forming a bearish engulfing pattern near the high.

- Volume spiked during the rally but declined during the pullback, while RSI approached overbought levels without confirming a breakout.

- Bollinger Bands expanded significantly, with price closing near the lower band, suggesting potential consolidation or oversold conditions.

- Fibonacci support at 0.1360 held, but risks remain for a break below this level, potentially triggering further downside in the next 24 hours.

Summary
• Price moved between key support and resistance levels during the 24-hour period.
• A bearish engulfing pattern appeared near the session high, suggesting short-term bearish bias.
• Volume spiked during the rally but declined during the pullback, indicating weakening buying pressure.
• RSI approached overbought territory but failed to confirm a strong breakout, hinting at potential consolidation.
• Bollinger Bands showed a moderate expansion, signaling increased volatility in the later hours.

At 12:00 ET–1, Algorand/Tether (ALGOUSDT) opened at 0.1395, reached a high of 0.1431, a low of 0.1353, and closed at 0.1362 at 12:00 ET. Total 24-hour volume was approximately 13,179,300, with notional turnover of ~$1,946,191.71.

Structure & Formations


Price traded between key support around 0.1353–0.1362 and resistance near 0.1401–0.1431 during the 24-hour window. A bearish engulfing pattern formed near 0.1402, signaling potential bearish pressure. A doji appeared around 0.1392, hinting at indecision after the early morning rally.

Moving Averages


On the 5-minute chart, the 20-period MA hovered just below the 50-period MA, suggesting a mixed bias. For the daily chart, price remained below the 50/100/200 MA, reinforcing a bearish trend but with signs of consolidation.

MACD & RSI


MACD showed a narrow histogram with a bearish crossover in the final hours. RSI approached overbought territory around 68–70 during the early rally, but failed to push above 75, indicating limited conviction.

Bollinger Bands


Bollinger Bands began the period in a relatively narrow state but expanded significantly in the later hours, particularly after 21:30 ET. Price closed near the lower band, signaling possible oversold conditions and a potential bounce.

Volume & Turnover


Volume spiked during the rally above 0.1402 but declined as price fell back toward the session low. Notional turnover mirrored this pattern, confirming weaker buying pressure during the downswing. A divergence between price and turnover was observed during the late-night pullback.

Fibonacci Retracements


On the 5-minute chart, a pullback from 0.1431 found support near the 38.2% retracement level at 0.1401. On the daily timeframe, the 61.8% level at 0.1360 provided a key support that held, suggesting potential for a near-term rebound.

Forward-Looking View and Risk


Price appears to be consolidating within a well-defined range, with key support and resistance levels in play. If bullish momentum builds above 0.1405, it could signal a potential reversal. However, the risk of a break below 0.1360 remains, which may lead to further downside in the next 24 hours.