$ALGO /USDT Price Action Analysis

ALGO is currently trading at 0.1176, marking a +3.43% increase in its local currency equivalent (Rs32.95).

Key Trading Metrics:

* 24h High: 0.1185

* 24h Low: 0.1115

* 24h Volume (ALGO): 38.98M

* 24h Volume (USDT): 4.48M

Moving Averages (MA) Crossover on the 1H Chart:

* The price is currently above the short-term MA(7) at 0.1165 and the mid-term MA(25) at 0.1147, indicating a strong short-term bullish momentum.

* A major resistance looms at the long-term MA(99) at 0.1197. A decisive breach of this level could signal a continuation of the uptrend.

* The immediate low of 0.1115 established a recent bottom.

Volume Spike:

* Recent green candles are accompanied by significant volume spikes (e.g., 2,346,326), confirming buying interest and adding conviction to the recent rally.

The market is showing a vigorous push, challenging key resistance, suggesting a volatile move is imminent.