After three days of going down, Algorand is flat today, hovering around $0.219

After dropping down to $0.217, Algorand recovers some losses and is currently trading at $0.219.

Algorand's state is reflected by market data as data for United States Unemployment Rate published yesterday at 12:30 UTC came out at 3.5, beating projections of 3.6 and showing improvement over the preceding figure of 3.6. Following a previous reading of 326,000, Non Farm Payrolls in United States released yesterday at 12:30 UTC fell short of the 239,000 figure expected by analysts with an actual reading of 236,000. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 226,100, while the previous figure was 181,100.

Algorand USD made an initial break below its 21 day Simple Moving Average at $0.216, a possible indication of a forthcoming negative trend. Algorand's upper Bollinger Band® is at $0.233, suggesting that a downward move may follow. On the other hand, note that Algorand is approaching key support, around 1 cents away from $0.214. 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.

Despite the market lacking direction, technical chart analysis strongly suggests Algorand is positioned for a downward move in the near term.

Other markets show mixed performance as FTX Token gained 9.54% and is now trading at $1.36. EOS gained 1.02% and is currently trading at $1.23. UNICORN Token USD moves up 1.62% to trade around $6.47.

Algorand has fallen back around 72.2% from the significant high of $0.788 set 11 months ago.