After four consecutive days of gains, Algorand is down $0.004 today

Algorand is range-bound between $0.123 and $0.127 today after shedding $0.004 and closing at $0.127 today.

Algorand USD made an initial break below its 10 day Simple Moving Average at $0.127, a possible indication of a forthcoming negative trend. On the other hand, note that Algorand could begin to recover as it approaches significant support, now 1 cents away from $0.121. Dipping below could be an indication that further losses are ahead.

In the short term, Algorand is expected to maintain its recent downtrend and continue spiralling lower.

In the meantime, negative performances are also seen in other markets, EOS is down to $0.751, losing $0.035, after closing at $0.786 in the preceding trading session.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Ripple is up 3.85%.

Furthermore, United States ISM Manufacturing PMI (Jun) is expected tomorrow at 14:00 UTC.

Algorand has fallen back around 69.93% from the significant high of $0.424 set 7 months ago.