Algorand's recent price surge has left investors wondering if the token's upside is capped at a certain level.
The cryptocurrency's price jumped by 17% in the last 24 hours, fueled by a constant buying pattern and bullish signals from on-chain metrics. Whale activity and derivative data also indicate a strong support for the market bulls.
However, the token's upward trend may be hindered by a nearby supply zone around $0.1133, which represents a pocket of potential selling pressure. If the price breaks past this zone, it could rally to test the next resistance level at around $0.15.