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February 26, 2023
Currently trading at $0.254, Algorand remains range-bound between $0.25 and $0.255.
Algorand USD price action is currently oscillating around the $0.252 resistance level with prices moving above and below several times during the session. Algorand's lower Bollinger Band® is at $0.238, indicating that the market is oversold and fertile for new buyers.
Following today's unexpected gains, extensive multifactorial technical analysis forecasts Algorand to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Algorand is expected to pick up significant bullish sentiment in the coming days.
Other markets are also showing gains as FTX Token gained 9.54% and is now trading at $1.36. TRON is up 2.13%.
At the same time, UNICORN Token USD withdraws 2.98% to trade around $6.43.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released tomorrow at 13:30 UTC.
Also worthy of note, tomorrow at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%.
Algorand reached a significant high of $0.95 around 11 months ago but has lost 73.54% since then.
