Algorand ($ALGO) is currently consolidating just beneath the Equal Highs (EQH) zone at $0.2392, a key level that has capped price action in recent sessions. Liquidity is resting above this level, making it a critical area for bulls to reclaim.
If buyers manage to push through and hold above $0.2392, momentum could shift strongly in their favor. The immediate upside liquidity pool sits in the $0.248 – $0.253 zone, where price could quickly gravitate.
Looking beyond the short-term, the bigger target for bulls lies near $0.265, an area that also aligns with inefficiency fill on the chart. This makes it a strong magnet for price if momentum continues.
For now, traders should watch how $ALGO reacts at the EQH zone. A clean break and reclaim could open the door for a bullish continuation, while rejection here may keep price locked in its consolidation range.
Key Levels to Watch:
Resistance: $0.2392 → $0.248 – $0.253 → $0.265
Support: $0.225 – $0.228 zone
