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Crypto

Algorand Price Stuck at Crucial Resistance Level

Guavy AI Editorial Team
Instruments
ALGO
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Algorand's price is stuck at $0.10, where it faces resistance from its 200-day moving average, as well as a confluence of other technical indicators.

The asset has been quiet and compressed lately, with daily ATR sitting at just $0.01, indicating minimal price volatility.

Smart money is loaded long on Algorand, with a 74% long/short ratio, but open interest dropped 0.67% over the last 24 hours, suggesting short covering rather than fresh buying pressure.

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