After four days of declines, Algorand is up $0.002 today

Algorand trades at $0.121 after gaining $0.002 (1.7%).

United States's Pending Home Sales new data released of -2.7% below its previous figure.

This move comes while some more positive signs for Algorand are out as highly important GDP data from United States beat analyst expectations of 1.4 with a reading of two. Data for United States Initial Jobless Claims published today at 12:30 UTC came out at 239,000, beating projections of 266,000 and showing improvement over the preceding figure of 265,000.

Nevertheless, highly important Pending Home Sales data from United States beat analyst expectations of 0.2% with a reading of -2.7%.

Algorand USD made an initial breakout above its 21 day Simple Moving Average at $0.121, a potential indicator of a newly emerging bullish phase. On the other hand, note that Algorand could be slowing down soon as it approaches resistance at $0.124. Of course, crossing it might suggest further gains are ahead.

Examining the technical analysis landscape, Algorand might continue its downtrend in the short term.

Other markets are also showing gains as Solana rallies 10.63% to trade around $17.68. Bitcoin Cash added 8.19% to its value, now trading at $243.68. FTX Token is up 9.54%.

Also worthy of note, United States Core PCE Price Index (MoM) (May) scheduled to come out tomorrow at 12:30 UTC.

Algorand has shed 49.79% over the past three months.