Algorand's Price Drops Amid Record Transactions, Technical Weakness

Algorand's price has dropped by 6.56% to $0.1239, holding near session lows after a record 1.03 million transactions in one day.

The asset remains below its key moving averages, reflecting short- and medium-term weakness, with traders expecting two to three days of volatility between $0.1155 and $0.1323.

Despite increased network interaction from users and developers, the price action has been under broader selling pressure, with bearish technical signals and a 67% probability of a further downward move.