Crypto
Algorand Price Breakout Hinges on Tense Showdown at $0.10
Algorand's price has been stuck in a tight range between $0.09 and $0.10, with momentum at a standstill.
The open interest has exploded by 12.34% in just 24 hours, reaching $8.6 million notional, indicating new money entering the futures market with conviction.
Top traders and whales are long ALGO at an astonishing 68.5%, while retail is also leaning towards a long position, but the spot market participants are net selling into this price zone.
The SMA 200 at $0.10 serves as a critical resistance level, with the Bollinger upper band and strong technical resistance making it a crucial target for bulls.