Algorand’s price action has been rangebound like many of the market’s altcoins. It's currently trading at $1.33 with $1.48 being the near term resistance and $1.28 being the support. We are looking to push back to the midline around $1.38.
That $1.38 midline level is the next major short term resistance if we can break that I'd expect a move back to test $1.48.
If we can break that level I would want to see us push and test $1.54 which is that longer term upward channel we talked about on my last ALGO price update.
The bearish case is that we see another market pullback and break that channel which will send us to $1.28 then back to the $1 support line. Everything is falling BTC and there's been some odd movements in markets. I think it is larger investors spooking markets to accumulate, but it sure does give me PTSD form 2012/2018. I'm planning to keep holding as I think this bull still has rum to run!
