| 
February 28, 2023
While on a 9 day downtrend Today is looking a bit better: Algorand trades at $0.256, after ending today at $0.256.
Uncertainty around Algorand is reflected by published market data as United States Pending Home Sales came out at 8.1%, better than analyst estimates of 1% and improving upon the previous reading of 1.1%. Highly important Core Durable Goods Orders data from United States beat analyst expectations of 0.1% with a reading of 0.7%. Core Durable Goods Orders in United States fell short of market expectations (-4%) with a reading of -4.5%, continuing the decline from the previous figure of 5.1%.
Algorand USD's upper Bollinger Band® is at $0.284 and the lower is $0.238.
Despite muted price action in Algorand, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances are seen elsewhere as FTX Token added 9.54% to its value, now trading at $1.36. MaticNetwork USD is down to $1.24, losing $0.044, after closing at $1.28 in the preceding trading session.
Furthermore, the market is looking at as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 440,000, following on from the preceding figure of 7.65 million. New data is set to be published tomorrow at 15:30 UTC. United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released today at 15:00 UTC. United States ISM Manufacturing PMI (Feb) scheduled to come out tomorrow at 15:00 UTC.
Having soared to a high of $0.95 approximately 11 months ago, Algorand is now trading 73.09% lower.
