After five days of declines, Algorand is up $0.003 today

After closing the previous trading day at $0.148, Algorand tested the upside around $0.151 today before settling back around $0.151 as bullish sentiment faded.

United States's Average Hourly Earnings new data released of 0.3% below its previous figure.

This move comes while some more positive signs for Algorand are out as United States Non Farm Payrolls beat analyst expectations of 180,000 and the previous reading of 294,000 with new data of 339,000.

Nevertheless, Average Hourly Earnings in United States fell short of market expectations (0.4%) with a reading of 0.3%, continuing the decline from the previous figure of 0.4%. Unemployment Rate in United States fell short of market expectations (3.5) with a reading of 3.7, continuing the decline from the previous figure of 3.4.

Algorand USD price action is currently oscillating around the $0.149 resistance level with prices moving above and below several times during the session. Algorand made an initial breakout above its 10 day Simple Moving Average at $0.152, a potential indicator of a newly emerging bullish phase. Algorand's lower Bollinger Band® is at $0.141, indicating that the market is oversold and fertile for new buyers.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Algorand to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Algorand is expected to pick up significant bullish sentiment in the coming days.

Algorand shows positive signs, other assets are also on par: FTX Token rallies 9.54% to trade around $1.36. TRON is up 2.22%. Ripple ascends 2.13% to trade around $0.518.

Pointing downwards for around 2 months. Having set a significant high of $0.424 6 months ago, Algorand is trading 65% lower.