Algorand Sees Relative Stability as Buildup to Flip $0.30 Continues

Algorand downtrend is seemingly coming to an end as prices are gradually stabilizing around certain marks. During the last three days, the price declines are less as the losses in two days were less than 4%.

One significant event took place two days ago when the asset started exchanging at $0.25. For the first time within the last five days, it attempted $0.26 but faced strong rejections. This comes barely a day after it rebounded $0.22.

During that period, the altcoin started trading at $0.25.

Following the rebound, over the last two days, it found support around $0.23. With this action gradually becoming a trend, the cryptocurrency is gradually seeing stability. The Relative Strength Index also agrees with this claim. Selling volume is also reducing as ALGO remained above 45 over the last three days.

Following such massive declines, stability may mean the halt of the decrease. It could also signify that the asset is gearing up to resume its uptrend.

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