$ALGO /USDT Spot Analysis

Algorand ($ALGO) is currently trading at $0.2290 on the spot market. Spot trading means buying or selling the asset directly at the current market price, without leverage, making it one of the simplest and most transparent ways to trade crypto. At this level, ALGO is holding above a key support zone around $0.2200, which has previously acted as a floor where buying interest tends to reappear. If price holds above this area, it signals strength and the possibility of a rebound.

On the upside, the immediate resistance lies near $0.2400, a level where sellers previously capped price moves. A clear breakout above this resistance could open the door for further gains toward the $0.2550 range. Conversely, a drop below support at $0.2200 may expose ALGO to lower levels around $0.2100. Traders should watch these zones closely for directional confirmation.