Market Overview for Algorand/Tether (ALGOUSDT)

Summary
• ALGOUSDT tested key support at $0.1205–0.1215, with bearish momentum gaining traction after 04:00 ET.
• Price formed a bearish engulfing pattern at 0.123–0.1225, confirming downward bias from earlier highs.
• Volatility surged midday as volume spiked to 886,920, aligning with the 11:45 ET breakdown to 0.1196.
• RSI and MACD indicate oversold conditions near 0.1196, though divergence in volume casts doubt on immediate reversal.
• Fibonacci retracement at 0.1209–0.1213 could act as a pivot for short-term bounce attempts.

Algorand/Tether (ALGOUSDT) opened at $0.1224 on 2025-12-13 at 12:00 ET and closed at $0.12 at 12:00 ET on 2025-12-14, reaching a high of $0.1235 and a low of $0.1196. Total volume over the 24-hour period was 9,440,431, with turnover exceeding $1,137,293.

Structure & Formations

The price formed a clear bearish engulfing pattern at $0.123–0.1225, confirming a breakdown after a short-lived bullish rally.

A key support zone developed around $0.1205–0.1215, where the price found temporary buyers multiple times. A doji near $0.1213 on the 5-minute chart at 11:45 ET suggested indecision before the final bearish move.

Technical Indicators

The 20 and 50-period moving averages on the 5-minute chart were in a steep bearish alignment, reinforcing the downward bias. MACD showed a bearish crossover and remained in negative territory, with momentum weakening after midday. RSI reached 25–30, indicating oversold conditions, but failed to show a clear rebound in price, suggesting weak conviction in any reversal attempt.

Volatility & Bollinger Bands

Volatility expanded sharply in the afternoon, with a notable contraction in Bollinger Band width preceding the 11:45 ET breakdown. Price action found itself near the lower band at 0.1196, highlighting extreme bearish pressure. This contraction-to-expansion dynamic suggests increased risk of either a sharp bounce or further downside.

Volume and Turnover

Volume surged to 886,920 at 11:45 ET, coinciding with the breakdown to 0.1196. The associated turnover of $109,708 was among the highest of the 24-hour period, confirming the strength of the bearish move. However, subsequent volume has failed to follow through, raising questions about the sustainability of the current trend.

Key Levels and Projections

Fibonacci retracement levels from the key swing high at 0.1235 and the low at 0.1196 suggest 0.1209 (38.2%) and 0.1213 (50%) as potential pivot zones for near-term buyers. The 50-period moving average on the daily chart sits at $0.1212, aligning with this level. A close above this zone could signal a resumption of bullish momentum, but bears currently control the near-term bias.

The market appears to be consolidating near 0.1196–0.1205, with bearish control dominating the 24-hour period. While the price may attempt a short-term bounce from key Fibonacci and moving average levels, the broader trend remains bearish. Traders should be cautious of further downside if volume fails to confirm any reversal attempt.