ALGO Jumps 12% on October 12, but Momentum Remains Unconfirmed
- —ALGO at $0.1289, up 12.01% on the day, intraday high $0.1294
- —Volume $114.77 million, 5.46% above the 30-day average
- —RSI at 60.7, but MACD histogram remains negative
- —ALGO is 31.32% below its year-ago price; ATH $3.28 from June 2019
Why it matters: The move above all SMAs looks bullish, but without volume confirmation and derivatives data it may prove to be a short-lived bounce.
Source: DiarioBitcoin