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Algorand [ALGO] Displays Mixed Signals as Network Activity Soars
Algorand [ALGO] Displays Mixed Signals as Network Activity Soars
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[TRADE_PLUGIN]ALGOUSDT,ALGOUSDT[/TRADE_PLUGIN]
Algorand ALGO News -
Algorand’s network processed over 1 million transactions in 24 hours, with active addresses surging nearly 30% to 108,000. This spike, driven by low fees and robust usage, represents a key milestone for the blockchain.
Despite strong on-chain activity, ALGO’s price dipped 0.45% during the same period, extending its weekly decline to 9.44%. The altcoin continues to struggle below $0.22 as retail selling pressure clashes with sustained long positions from major traders.
Technical analysis indicates a potential triple-bottom pattern forming above critical support. A breakout could propel ALGO toward $0.3128—a 47% upside—but weak momentum suggests extended consolidation may lie ahead.
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