$ALGO has been moving in a tight range after a sharp downside move, but the recent bounce lacks conviction. Price is struggling to build momentum and continues to print weak candles, signaling hesitation rather than strength. This structure reflects consolidation after distribution, where buyers fail to regain control and sellers remain active on every push higher.
Price is currently trading below a clear supply zone, with repeated rejections near the upper band of the range. Each attempt to move higher is quickly absorbed, suggesting trapped longs and limited upside. With volatility compressing and momentum fading, the structure favors continuation to the downside rather than a sustained recovery.
Support and resistance are clearly defined.
On the upside, strong resistance sits around 0.1185–0.1200, which has capped price multiple times. A higher resistance zone lies near 0.1230–0.1250, the area where selling pressure previously accelerated.
On the downside, first support is located around 0.1150–0.1160, the nearest demand zone and likely first reaction area. If that fails, the next major support rests near 0.1100–0.1120, where deeper liquidity is expected.
Overall structure and price behavior continue to favor bearish continuation from resistance.
Short Trade Signal
Margin: 20x – 50x (Cross)
Leverage: 20x – 50x
Entry 1: 0.1185
Entry 2: 0.1215
Take Profits:
TP1: 0.1160
TP2: 0.1120
Or Take Profit from 100% to 300%
Stop Loss:
* 0.1260
Short #ALGO Here 👇🏻👇🏻
