📊 Algorand ($ALGO ) shows relative strength despite market weakness
$ALGO is one of the few cryptocurrencies that achieved slight gains today, while the entire market is under pressure. The price rebounded from a low near 0.11 to around 0.13 with clear support from trading volume, but it is still far from the monthly highs near 0.15
Despite the overall weakness due to Bitcoin remaining under 90K, network developments such as increased activity, developer adoption, and the VRF feature give #ALGO an advantage.
Technically: RSI rebounded from oversold conditions, and MACD hints at weakness among sellers.
The first resistance at 0.1290, and breaking it could open the way towards 0.17 then 0.19
But beware: any profit-taking could bring the price back to the 0.11 – 0.10 area
The opportunity exists, but discipline is more important than enthusiasm. 🚀
$ALGO 👀 👇
