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Algorand ALGO Holds $0.26 Support Amid Bullish Technical Signals Despite USDT Withdrawal News
Algorand ALGO Holds $0.26 Support Amid Bullish Technical Signals Despite USDT Withdrawal News
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[TRADE_PLUGIN]ALGOUSDT,ALGOUSDT[/TRADE_PLUGIN]
Algorand ALGO News -
Algorand's ALGO token is currently trading at $0.26, showing a 1.50% daily increase despite mixed market signals. The price faces pressure from Tether's announcement to end USDT support on the Algorand blockchain by September 1, 2025, which caused a 6% drop earlier this week. However, technical analysts identify a forming bull flag pattern that could signal an upcoming breakout.
While the RSI stands neutral at 54.15 and MACD shows bearish momentum, Optimism grows ahead of Algorand's roadmap release later today. ALGO demonstrated resilience with a 3.24% rebound from July 27 lows near $0.2675, indicating underlying strength despite external challenges.
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