Algorand Price Slumps 7.41%, Analysts Predict Further Downward Momentum

Algorand (ALGO) is experiencing significant downward pressure, with its price currently trading at $0.0887, down 7.41% over the last day.

The asset is situated below its key moving averages, indicating sustained short-term and long-term pressure.

Momentum indicators deliver strong and persistent sell signals, further emphasizing the bearish trend.

According to analysts, the expected trading range for the next 2-3 days is $0.0831 to $0.0917, with a high probability of a further downward move unless resistance at $0.0932 is broken.