Algorand (ALGO) Forms Higher Lows, Prepares for Possible Upward Trend

• Algorand (ALGO) trades at $0.2088, stabilizing after bouncing from strong support near $0.177.
• Price moved above the Bollinger Band midline ($0.19946), signaling potential momentum.
• Key resistance is at the 9-period DEMA around $0.20935; a close above may boost gains.
• ALGO stays in consolidation until it breaks decisively above $0.209.

Algorand (ALGO) is currently trading at $0.2088, reflecting a slight uptick of 0.06% over the last 24 hours. After enduring extended downward pressure, the asset appears to be stabilizing. Early signs suggest a possible shift in sentiment from bearish to a more neutral or slightly bullish tone.

Price action shows bulls beginning to regain control after ALGO rebounded from strong support around the $0.177 level. This area has served as a key base during the recent correction.