Algorand (ALGO) key support and resistance levels:

$ALGO Technical Overview:

Support Levels:

$0.188: Immediate support, reinforced by recent trading volumes.

$0.183 – $0.176: Short-term support range, as identified by Fibonacci retracement levels.

$0.16: Long-term support, previously tested during broader market corrections.

Resistance Levels:

$0.192: Current price level, acting as immediate resistance.

$0.194 – $0.199: Short-term resistance zone, based on recent price action.

$0.25: Key resistance level; a breakout above this could signal a bullish trend.

$0.30 – $0.32: Long-term resistance area; surpassing this range may indicate a significant upward momentum.

$ALGO Technical Indicators:

Moving Averages:

50-Day SMA: Estimated to reach $0.2105 by July 7, 2025.

200-Day SMA: Projected to decline to $0.1867 by the same date.

Relative Strength Index (RSI): Currently around 55, suggesting a neutral market stance with potential for upward movement.

MACD: Recent bullish crossover indicates growing positive momentum.

$ALGO Market Sentiment:

Overall Sentiment: Predominantly bearish, with 66% of technical indicators signaling a bearish outlook.

Fear & Greed Index: Currently at 57, indicating a "Greed" sentiment among investors.

Outlook for June 2025:

Analysts suggest that if ALGO maintains support above $0.18 and breaks through the $0.25 resistance, it could rally towards $0.30 by the end of June. However, failure to hold above $0.18 may lead to a retest of lower support levels around $0.16.