Algorand cryptocurrency trades up $0.004, approximately 3.84% higher this afternoon

Tentatively higher from an earlier low of $0.115, Algorand is up to $0.12 today, adding $0.004, or 3.84%, to today's closing price of $0.116.

Meanwhile, United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 15,700, while the previous figure was 8,800. United States CFTC S&P 500 speculative net positions came out at -331,400. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 155,100, while the previous figure was 172,400.

Trend and momentum analysis indicates that despite posting gains so far today, Algorand USD slid below its 10 day Simple Moving Average at $0.115 in earlier trade — an early indicator that a negative trend could be emerging. Chart analysis indicates Algorand broke through the $0.119 resistance and climbed above it 1 cents; next resistance level is at $0.122.

Notwithstanding Algorand's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Algorand shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. MaticNetwork USD moves up 5.49% to trade around $0.622. Having closed the previous session at $238.82, Binance Coin is up 2.74% today to currently trade at around $245.37.

On a negative trend for around 2 months. 7 months ago Algorand reached a significant high of $0.424 but has consequently lost 72.65% since then.