$ALGO

Algorand (ALGO) Forms Bearish Round Top ⚠️📉 | Uptrend Weakens 🐻

Algorand (ALGO) is showing a bearish round top pattern on the charts 🥣🔻 — a slow but steady shift from bullish momentum to seller dominance. This technical formation often signals exhaustion in the uptrend, and current price action suggests the bears are quietly tightening their grip.

📉 Technical analysis reveals a gradual curve at the top of ALGO’s recent rally 📐📊. The rounded formation, combined with declining volume, indicates weakening buying pressure. The RSI is drifting lower 🎯🔻, hinting at a loss of bullish strength, while MACD lines are crossing downward 🔄🚨, reinforcing the bearish bias.

📏 The key support zone sits near the base of this curve — a breakdown here could confirm the round top and open the door for further downside. Traders are closely watching for a daily close below this level as a trigger for short setups.

💼 On-chain data is adding weight to the bearish case. Exchange inflows for ALGO are climbing 📈🏦, signaling that more tokens are moving toward centralized exchanges for possible selling. Whale wallets 🐋📦 have been reducing their holdings, similar to patterns seen before major pullbacks in BTC 🪙⚡, ETH 💎📊, and SOL 🏎️🔥.

📢 Market sentiment is cooling across social media. On X (Twitter), hashtags like #ALGO, #BearishMarket, and #RoundTop are trending 📉🚨. Chart analysts are highlighting the rounded structure and warning that without strong bullish intervention, the pattern could play out to its full downside target.

⚡ Broader market weakness is adding pressure. With Bitcoin struggling to hold key levels and altcoin liquidity thinning, ALGO’s vulnerability to sharp moves increases. Risk-off behavior is evident, as capital rotates into stablecoins 💵🛡️ or higher-cap assets.

💬 Psychologically, a round top often traps late buyers who entered near the highs, leading to a cascade of selling once key supports give way. This self-reinforcing move can cause rapid