After three days of going down, Algorand is flat today, hovering around $0.183

Without a clear-cut direction, Algorand is trading around $0.183 and ranging between $0.182 and $0.183.

Algorand USD made an initial breakout above its 5 day Simple Moving Average at $0.183, a potential indicator of a newly emerging bullish phase. Algorand is currently alternating around $0.182 with price action moving above and below this key level throughout the session.

Despite muted price action in Algorand, chart analysis indicates it is positioned for a bullish run in the short term.

While Algorand is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD rises 1.62% to trade around $6.47.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States ISM Manufacturing PMI (Apr) is expected tomorrow at 14:00 UTC.

Trending downwards for around a month. Algorand has fallen back around 75.49% from the significant high of $0.749 set 11 months ago.