- The ALGO coin price pullbacks from the 21-EMA during intraday.
- The 24-hour trading volume is at $635 million.
- ALGO/BTC pair is trading positive by 3.3% at 0.00003173 BTC.
On the daily price chart of ALGO coin, The Moving Average (EMA), which includes the 8,13,21,55 EMA, acts as reliable support for currency price movements. Investors may notice price bounce off the yellow line, ensuring an Algorand uptrend until the price resides above all the EMA’s.
Trading volume (32.835 M) is above the 20-day moving average (39.786 M). The volume is high, so the cost is moving upside. Investors may also find that the volume is increasing. This indicates that unusual fluctuations are common in the following trading days.
ALGO Coin Price Requires High Buying Momentum
ALGO coin daily price charts show an uptrend. Based on the price action, the support zone is located at 1.40- 1.50 USDT. On the other hand, the resistance zone to look for is 2.40- 2.50 USDT. Therefore, the chart shows a bearish harami candlestick pattern during the day.
The RSI showed a 58 (bullish) signal, Expecting to buy in the short term. Investors may find that the RSI line is sloping up on the indicator. It may rise in futures trading.
The MACD shows a cross (bullish) above the signal line on October 23, demonstrating a buy signal in the coin. Additionally, Investors can see green bars on the Histogram index.
Conclusion
Algorand is currently trading at $2.00 with a 24-hour trading volume of $638,530,226. ALGO prices have increased 2.8% in the past 24 hours. 6.2 billion ALGO coins are in circulation and there is a total supply of 6.62 billion coins.
RSI and MACD indicate a buy signal. Traders have directed moderate volume. In fact, the cost is moving towards the resistance zone. A market overview also shows that this pattern will continue to rise in the coming trading days.
Resistance Level: $2.40 – $2.50
Support Level: $1.40 – $1.50