Crypto
Algo's Stuck Price Triggers Breakout or Flush in Next 30 Days
Algo (ALGO) has been coiled at $0.09 for an extended period, with all major moving averages converged at this price point.
The tight compression is a historically rare occurrence on Layer-1 charts, and the momentum has gone completely silent.
The MACD and signal line are kissing each other's values, while the histogram prints zero, indicating that neither buyers nor sellers are currently winning this battle.
However, derivatives data reveals that smart money is loading up long, with top traders sitting at 68.2% long and a taker buy/sell ratio of 1.78.