After four days of going down, Algorand is flat today, hovering around $0.214

Without a clear-cut direction, Algorand is trading around $0.214 and ranging between $0.208 and $0.219.

Algorand's state is reflected by market data as United States ISM Manufacturing PMI (Mar) came out at 46.3, while a consensus of analysts was expecting 47.5. United States ISM Manufacturing Employment (Mar) released today at 14:00 UTC with a figure of 46.9, while the previous figure was 49.1. United States ISM Manufacturing Prices (Mar) came out at 49.2, while a consensus of analysts was expecting 51.2.

As the trading day comes to an end, chart analysis indicates Algorand USD is approaching key support, around 1 cents away from $0.206. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend analysis indicates that Algorand made an initial breakout above its 21 day Simple Moving Average at $0.216, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Algorand's upper Bollinger Band® is at $0.233, suggesting that a downward move may follow.

Overall, technical indicators suggest Algorand has no obvious direction for the immediate future.

While Algorand is pretty flat so far today, mixed performances are seen elsewhere as Dogecoin is up 20.85%. FTX Token added 9.54% to its value, now trading at $1.36. EOS is trading around $1.18 (down $0.058).

Moreover, United States JOLTs Job Openings (Feb) scheduled to come out tomorrow at 14:00 UTC.

Since its 52-week high of $0.883, Algorand has lost 75.85% over the last twelve months.