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July 01, 2023Slightly weaker but mostly flat: Algorand is currently trading at $0.12 as it maintains an active range between $0.12 and $0.123.
Meanwhile, United States Core PCE Price Index (YoY) (May) came out at 4.6, while a consensus of analysts was expecting 4.7. United States Core PCE Price Index (MoM) (May) released yesterday at 12:30 UTC with a figure of 0.3, while the previous figure was 0.4. Fresh CFTC S&P 500 speculative net positions data from United States came out at -208,300.
Algorand USD made an initial break below its 21 day Simple Moving Average at $0.121, a possible indication of a forthcoming negative trend. Despite this, Algorand could begin to recover as it approaches significant support, now 1 cents away from $0.116. Dipping below could be an indication that further losses are ahead.
Looking forward, Algorand is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, Bitcoin Cash is trading around $283.9 (down $22.81).
Other assets are showing positive performances as FTX Token is up 9.54% to $1.36. Dogecoin increases 4.12% to trade around $0.069.
Over the past 7 months, Algorand has retreated 71.28% from a noteworthy peak of $0.424.
