Algorand continues trading sideways, currently at $0.231

It's been more of the same this session on the back of 15 days of flat trade, Today's session so far looks to be heading in a similar way — Algorand trades at $0.231, after ending today at $0.232.

As the day gets underway, chart analysis suggests Algorand USD is approaching key support, around 1 cents away from $0.225. 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. Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Algorand's upper Bollinger Band® is at $0.234, suggesting that a downward move may follow.

The current technical outlook indicates Algorand will continue to ebb sideways within tight ranges for the immediate future.

At the same time, mixed performances are seen elsewhere as FTX Token rallies 9.54% to trade around $1.36. UNICORN Token USD gained 1.62% and is currently trading at $6.47.

On an upward trend for about a month now. Approximately 11 months ago, Algorand reached a significant high of $0.759 but has struggled to hold onto its gains and declined 69.48% since then.