Algorand Price Rejected at $0.14, Faces Intense Selling Pressure

Algorand's price surge to $0.14 was short-lived as it faced intense selling pressure and failed to sustain its uptrend.

The altcoin was driven by speculation surrounding its role in AI agent payment, but this enthusiasm quickly faded, leading to a pullback.

As a result, Algorand's price dropped to $0.12, down 10% on the daily charts, with its Spot trading volume falling 28% to $224 million.

The altcoin's Open Interest (OI) and derivatives volume also declined, suggesting reduced market activity and lack of risk appetite among investors.