Algorand Holds Pivot at $0.2380, Eyes $0.335–$0.495
Algorand (ALGO) is trading at $0.2611 after a 5.4% 24-hour gain, holding above the weekly pivot at $0.2380. Short-term support stands at $0.2402 with resistance at $0.2688 and a 24h volume of approximately 266.1 million. Maintaining the weekly pivot keeps upside targets at $0.3350, $0.4000 and $0.4950 valid, while a break below $0.2380 would shift focus to lower support bands. Traders can use the weekly pivot as a risk boundary: stay bullish above $0.2380 and reduce exposure if ALGO closes below it. Staggered profit-taking at each target can secure gains and preserve upside participation. ALGO’s resilience above its weekly pivot and a 2.9% gain versus Bitcoin support a cautiously bullish outlook. Monitoring weekly closes and volume will help confirm directional bias and optimise entry and exit points around key support and resistance levels.
Bullish
Holding above the $0.2380 weekly pivot demonstrates sustained buyer interest and technical strength for Algorand. This level has historically acted as a reliable support, with previous closes above it leading to sequential tests of higher resistance zones. The current 5.4% rally and a 2.9% gain versus Bitcoin reinforce relative momentum. Traders using the pivot as a risk boundary can manage exposure effectively, while staggered profit-taking at $0.3350, $0.4000 and $0.4950 aligns with clear technical objectives. These dynamics suggest a bullish short-term bias, provided weekly closes and volume confirm upward continuation.