Market Overview for Algorand/Tether (ALGOUSDT) – 24-Hour Analysis as of 2025-11-01

• ALGOUSDT opened at $0.1776 and traded between $0.1741 and $0.1791, closing at $0.1787.
• Momentum shifted upward in the final hours, with price reclaiming key intraday resistance.
• Volatility remained moderate, though turnover surged in the morning session and again near close.
• A bullish engulfing pattern emerged in the final candle cluster, suggesting potential short-term strength.
• RSI and MACD show moderate positive momentum, but are not yet overbought.

Algorand/Tether (ALGOUSDT) opened at $0.1776 on 2025-11-01 (12:00 ET−1) and closed at $0.1787 at 12:00 ET. The pair traded between a low of $0.1741 and a high of $0.1791. Total volume for the 24-hour window was 21,752,973 and turnover was approximately $3,718,862. Price action shows a modest but clear recovery in the final hours of the day.

1. Structure & Formations

Price found a key support level around $0.1740–0.1745 in the early session, bouncing with increasing conviction as the day progressed. The formation of a bullish engulfing pattern in the last two hours—starting from $0.1778 and closing at $0.1787—suggests short-term buyers may be taking control. The 0.1780–0.1785 range appears to have become a new short-term resistance cluster and appears to be transitioning into a support zone based on the final candle cluster.

2. Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are converging slightly below current price levels, indicating a potential shift in momentum toward the upside. On the daily timeframe, the 50 and 200-period moving averages remain bearish, with ALGOUSDT trading above the 50 SMA but below the 200 SMA, indicating a mixed longer-term trend.

3. MACD & RSI

The MACD crossed above its signal line in the last hour of the session, suggesting a short-term reversal in bearish momentum. RSI has moved from neutral into overbought territory in the final hours, now resting at approximately 55–58. While not extreme, this implies that buyers are currently in control of short-term price direction and may continue to push higher if the bullish pattern holds.

4. Bollinger Bands & Volatility

Price action remains within the 15-minute Bollinger Bands with moderate volatility, not showing any significant contraction or expansion in the last 24 hours. The final candles traded near the upper band, suggesting a retest of key resistance. No significant volatility expansion was observed, though volume spikes in the early and late hours indicate possible institutional involvement or algorithmic trading activity.

Backtest Hypothesis

The “Bullish Engulfing 3-Day Hold” strategy was tested on ALGOUSDT from 2022–01–01 to 2025–11–01. Over this period, the strategy delivered frequent signals but underperformed with a total return of -55.0%, annualized return of -7.9%, and a Sharpe ratio of -0.22. These results suggest that the pattern alone lacks a clear edge in a bearish market context. However, the recent 15-minute bullish engulfing pattern—confirmed by rising MACD and RSI—could still suggest a potential short-term reversal. To improve performance, the strategy could be enhanced by adding stop-loss/take-profit rules or combining it with trend filters to avoid bearish environments.