Data from Santiment reveals that Algorand’s “average exponential dollar invested” has decreased by 30% over the past few days.
And today shows increased movement of previously inactive coins.
Algorand is trading in a tight range, after a tremendous surge.
Previously, CNF highlighted bullish indicators for Algorand, with a potential breakout target between $1–$3 based on historical growth trends. Although the latest price correction has pushed Algorand below the rising trendline, raising concerns about a bearish shift, analysts believe that this pullback may be setting the stage for a new rally.