Alright, team, checking in on $ALGO here on the 1-hour.
Looks like we've been grinding in this range for a bit now. Early July saw a nice push, but we got rejected hard around the 0.19 level. Since then, it's been a pretty choppy descent.
Currently, we're bouncing off what looks like decent support in the 0.17 - 0.172 zone. We tried to reclaim 0.178 earlier but got pushed back. Volume has been pretty consistent, nothing crazy to suggest a big move just yet.
Keep an eye on this 0.17 level. If it breaks, we could see a retest of the lows around 0.165 or even lower. On the flip side, a convincing break and hold above 0.178 could open the door for a move back towards 0.185. It's a grind out there, stay nimble.