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NewsBTC 2022-09-30 01:00:14

Algorand Price Slowly Moved Up, Will The Bulls Stick Around?

Algorand price has been trying to sail through the choppy waters, the coin has moved against the broader market price movement. Over the last 24 hours, Algorand has gained 2%, which means that ALGO is stuck in consolidation. In the past week, ALGO moved up by 3%. This also signalled that the altcoin hasn’t made significant upward movement on the chart. The technical indicator of the altcoin showed that the bulls were still in control. The buyers were still more than sellers, but the technical outlook also pointed out that the bulls would soon fizzle out in the market. The demand for ALGO had slowed down, indicating that sellers would soon take control, bringing the price of the altcoin down to its next support level. The support zone for the altcoin stood between $0.33 and $0.27 respectively. The demand for the altcoin has been dropping, which means that the coin will move near the $0.31 price mark. Algorand Price: One Day Chart ALGO was trading for $0.34 at the time of writing. The coin was trading in a descending channel from which it broke out, but it was unable to add further fuel to its price owing to lower demand. The immediate resistance for the coin stands at $0.40 and a push above that could help the bulls to stick around for longer. On the other hand, the local support for the coin stood at $0.31. A fall from the $0.31 level will bring ALGO down to $0.27. The amount of Algorand traded in the last session decrea...

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