$ALGO ’s latest move was sharp — a clean rally straight into the shaded resistance band, where price stalled almost immediately. The rejection wasn’t violent, but the candles show hesitation: wicks at the highs, fading momentum, and a small pullback to 0.1150. That’s the kind of behavior you expect when price runs into supply that hasn’t yet been mitigated. The zone did its job, absorbing the push and halting expansion.
The projection on the chart points lower, and it makes sense in context. The untested demand beneath is where liquidity sits, waiting to be swept. If
$ALGO retraces into that pocket and finds buyers, the structure could reset and allow another leg higher. If instead the zone fails, the bullish thesis collapses and deeper levels open up. Right now, the market is balanced between capped highs and untouched demand, compressing in a way that builds energy for whichever side gets triggered first.
The mitigated supply above has already proven itself, rejecting rallies decisively. The unmitigated demand below is the real decision point. Between them, ALGO is caught in a tug‑of‑war: dips are defended, but rallies fade quickly, leaving the chart in a holding pattern. That tension is what defines the current tape.
Forward, the chart doesn’t need guesses, it needs reactions. If ALGO pulls back into that untested demand and holds, the setup for continuation remains intact. If instead that zone breaks cleanly, the bullish case is invalidated and the structure shifts lower. The next move hinges entirely on how price behaves at that demand pocket.
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