ALGO Rides Bitcoin Short-Squeeze to Prime Territory

The price of ALGO has risen to $0.11 as it trades against its upper Bollinger Band resistance, with smart money running a 2.18:1 long-to-short ratio.

A fundamental narrative is driving this move, led by Algorand's x402 agentic payments infrastructure, which is supporting approximately 69,000 active agents and 165 million transactions.

The token has been rising since it was trading below $0.09 two weeks ago, but its price action is now stretched, with momentum oscillators confirming buyers are hesitating at the wrong place.

Despite this, the moving average structure is unambiguously bullish, and the pivot sits at $0.11, which doubles as immediate support.