Algorand Price Surges 16%, But Bearish Structure Remains
The Algorand token price has surpassed its 20-week moving average for the second time since September 2025, and it's up nearly 16% for the day. The daily trading volume has exploded by 204%, and Open Interest has surged by 43%. This surge in interest is part of a broader trend in altcoins, with the altcoin market cap up 33% since August.
The spot CVD was rising to show steady spot demand, but funding rates had fallen into negative territory. This presented a short-term problem for Algorand bulls, suggesting that the short trade was overcrowded and prices could be due for a squeeze.
Despite this, a 72% rally in six weeks is a sign of intent, and the price move back above the 20-week moving average suggests a bullish trend. However, the price structure has been bearish since July 2025, and a weekly session close above $0.1456 would be needed to confirm a reversal.
If this happens, the next price target would be $0.336, which is 150% higher than current market prices. However, if Algorand can't breach the $0.1396 swing point, it could signal a range formation in play, with a retreat to $0.108 becoming the next move to watch.