- The algorande was faced with a purchase pressure after exceeding the level of resistance of the keys of $ 0.24 on its corner model falling in the table of 4 hours.
- Despite an increase in open interest, Algo has not yet confirmed his next direction while the technical indicators flash the mixed signals.
Algorand (Algo) experienced an increase of 18.61% of the negotiation volume after having broken out from the drop in its corner model with substantial purchase.
At the time of the press, Algo jumped 5.4% and was negotiated at $ 0.250, according to Coinmarketcap.
The Altcoin is consolidated inside a corner model falling for weeks before an escape above the level of resistance of the keys of $ 0.24. After the escape, traders wonder what to follow because the algorand flashes mixed signals.
Algorand price action on the graphic
Looking at the 4 -hour table, Algo took up bullish momentum, exceeding the level of resistance of the keys of $ 0.24 on its line of descending resistance trend.
The price was consolidated above its drop in the corner model while the Bulls try to confirm the distribution and the trend of the price increase.
As the purchase pressure increases, Algo could look at $ 0.32 in the short term while targeting the level of keys to $ 0.40. Failure to comply with $ 0.24 could lead to the key level of $ 0.22 to the support of $ 0.17 in its downward area training.
Source: tradingView
At the time of the editorial staff of the editorial staff, the Relative force index of Algorand (RSI) is 59 years old, with its short and long -term SMAS signaling “ Buy ” on the basis of tradingView data. This indicates that Altcoin was not exaggerated at the time of the press.
The MacD (12.26) was at -0,0213, suggesting a potential optimistic momentum. However, with the EMA and the SMA in mid-term reporting “sell”, the upward trend is not yet confirmed.
A glimpse of the metrics in chain
The majority (78%) of Algo holders, who are large investors, are short of money after having held the token for more than a year, according to intotheblock data.
Algo reached $ 72.07 million in large transactions in last week, while its 24-hour long-short ratio has increased to 2.19 pointing that more investors bought than to sell.
Source: intotheblock
The Algorand saw the total locked value (TVL) recently fluctuating and a drop in the first quarter of 2025, according to Defilma data.
Despite a 10% increase in open interest (OO) in the last 24 hours, Algo has faced an equal pressure of bulls and bear.
Source: Defillama
Key levels to monitor
The Algorand must maintain its bullish momentum above the key level of $ 0.24 with high purchase pressure. He should make higher ups and stockings within the lower time to confirm his break.
If the positive trend is maintained, the Altcoin could reach the key level of $ 0.32 while targeting the level of key resistance of $ 0.40 in the coming weeks.
