Market Overview for Algorand/Tether (ALGOUSDT)

Summary
• Price declined from 0.1401 to 0.1315, with 0.133–0.134 acting as a strong resistance.
• A bearish engulfing pattern appeared near 0.1345–0.1342 at 15:45 ET, signaling a potential trend shift.
• RSI hit oversold territory (27) at 16:00 ET, suggesting potential short-term rebound.
• Bollinger Bands widened in the final hours, indicating rising volatility.
• Volume surged past 1.15M at 14:45 ET, aligning with a sharp drop to 0.1331.

At 12:00 ET on 2026-01-15, Algorand/Tether (ALGOUSDT) opened at 0.1401, peaked at 0.1402, and hit a 24-hour low of 0.1297 before closing at 0.1315. Total volume reached 8.21M ALGO, with $1.08M in notional turnover.

Price Action and Structure

The price trended lower for most of the 24 hours, forming multiple bearish patterns including a bearish engulfing candle at 15:45 ET near 0.1345–0.1342. A key support level appears to be forming around 0.1315–0.1320, where price found some buying interest toward the end of the session. Resistance levels at 0.133–0.134 showed recurring rejection, with several candles closing below this zone after attempts to push higher.

Momentum and Volatility

The RSI dropped into oversold territory (27) at 16:00 ET, signaling potential short-term accumulation. MACD remained bearish throughout, with the histogram narrowing slightly in the final hours, suggesting some momentum exhaustion. Bollinger Bands saw a notable widening after 14:00 ET, especially as volatility spiked during the large-volume sell-off around 14:45 ET.

Volume and Turnover Dynamics

Volume surged to a high of 1.16M ALGO at 14:45 ET, coinciding with a sharp drop to 0.1331. Turnover spiked to $154.77K at that time, indicating a significant bearish move. The volume and price action aligned well during this period, reinforcing the bearish signal.

Key Levels and Retracements

The 20-period and 50-period moving averages on the 5-minute chart were consistently bearish, with the 50-period at 0.1335–0.1340. Fibonacci retracements on the key 5-minute swing from 0.1345 to 0.1297 identified 0.1325 as a potential support zone (38.2%), and 0.1315 as a 50% level.

Price may find support around 0.1315–0.1320 in the near term and could test this zone again. A break below would likely target 0.1290–0.1297, but a rebound from current levels could see a return to 0.1330. Investors should remain cautious of increased volatility and diverging volume patterns.