Algorand (ALGO) is displaying signs of a short-term pullback following a strong bullish rally, with technical analysis pointing toward a potential retreat to the $0.087–$0.106 support range. The token is currently trading at $0.1210, marking a 0.99% increase over the past 24 hours, accompanied by a trading volume of $2.26 billion and a market capitalization of $1.05 billion.

Analyst More Crypto Online highlights a developing three-wave corrective pattern that may set the stage for the next upward leg. The analysis notes, 'This is the final move to complete the bear wave structure,' indicating that a confirmed breakout above the $0.248 resistance level would be a key signal for renewed bullish momentum.

Despite evident strong buying interest, the recent price advance appears overextended. Market participants are now monitoring the $0.087–$0.106 zone as a potential area for strategic accumulation ahead of the anticipated next move higher.