TL;DR Breakdown Algorand price analysis shows a bullish momentum.Strong support is present at $1.26.Resistance is present at $2.30. The Algorand price analysis reveals a bullish trend today. The ALGO/USD price level has reached the mark of $2.14 again after getting rejected from $2.30, which is the current resistance. The ALGO gained a value of 1.2 percent during the last 24 hours and has gained a significant value of 66 percent over the past seven days. Mixed market sentiment was observed for the ALGO/USD pair yesterday during different trading intervals as the price fluctuated from $2.24 down to $1.99. Today, the ALGO price has been on the rise continuously since the start and has moved up from $1.99 to $2.14 at the time of writing as traders invest in ALGO, and still, there seems to be a quite much leeway for the ALGO bulls. ALGO/USD 1-day price chart: ALGO moves up from $1.99 The 1-day Algorand price analysis shows a bullish momentum is on the go, and a further price increase is expected in the coming hours as bulls continue their rally. The volatility is also increasing. ALGO/USD 1-day price chart. Source: Tradingview The Bollinger bands expansion is entirely on the higher side, with the upper band at $2.22 and the lower band at $0.52, making an average of $1.37. The moving average (MA) is at the $1.73 mark. The relative strength index (RSI) is above the neutral level into the overbought region with a score of 72. A...
