Here’s a technical snapshot and analysis for $ALGO
/USDT Perpetual
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📊 ALGO/USDT Market Overview
Metric Value
Last Price $0.1752 ⬇️ (-6.31%)
Mark Price $0.1752
24h High / Low $0.1887 / $0.1694
24h Volume (ALGO) 291.45M
24h Volume (USDT) $51.29M
Current Volume 6.68M
MA(5) 7.92M
MA(10) 8.53M
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🔍 Technical Insight
✅ Price Action
ALGO is trading down 6.31%, firmly in a bearish zone.
The price is hovering just above the 24h low ($0.1694).
Significant rejection from $0.1887, suggesting strong selling pressure near resistance.
📉 Volume & Momentum
Today’s volume is below average (relative to 5 & 10-period moving averages).
Declining momentum confirmed by price-action and failed support at prior levels.
The market is showing weak buyer interest.
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🔑 Key Levels
Level Type Price (USDT) Details
Resistance 1 0.1831 Near-term rejection zone
Resistance 2 0.1881–0.1919 Strong supply zone
Support 1 0.1694 24h Low
Support 2 0.1682 Next visible demand zone
Support 3 0.1600 (approx) Psychological + historical
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🧭 Trend Summary
Metric Status
Short-Term Trend Bearish
Momentum Weak
Volume Trend Declining
Bias Bearish-Negative
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📈 Trade Scenarios
🔽 Bearish Continuation (Primary Setup)
Entry: On breakdown below $0.1694
Target: $0.1682 → $0.1600
Stop-Loss: Above $0.1765 (prior support flipped resistance)
📉 Confidence: High, if breakdown occurs with volume
🔼 Bullish Reversal (Speculative)
Entry: Close above $0.1831 with volume
Target: $0.1881 → $0.1920
Stop-Loss: Below $0.1750
⚠️ Low confidence unless supported by reversal candle and volume surge
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🧠 Conclusion
ALGO/USDT is in a clear short-term downtrend, with weak support and no current reversal signals. A break below $0.1694 could accelerate selling to the $0.16 area.
> 💡 Tip: Set breakout alerts near $0.1690 (downside) or $0.1830 (upside) and avoid entering in the middle of this tightening range without volume confirmation.