Algorand Price Hinges on Breakout from Key Resistance at $0.1065

Algorand (ALGO) continues to face selling pressure despite early signs of stabilization in a vital support area. The current price of ALGO was $0.09263, down by 3.74% from the last 24 hours.

The trading volume had reached a value of $95.33 million, while the market cap was at $826.82 million. According to crypto analyst Chiefrat, Algorand needs to breach the resistance level of $0.1065 for the bullish trend to continue.

If ALGO breaks through this key resistance level, it could pave the way for a 35% rise in price, with the next significant resistance at $0.1450.

The breakdown above the level of $0.1065 would be crucial, as further confirmation will be needed before any upside movement can occur.