ALGO Drops 10.30% on October 13, Tests Technical Support
- —ALGO fell 10.30% to $0.1169901 from the prior close of $0.1207735
- —Price trades below SMA-5, SMA-7 and SMA-20 but above SMA-30, SMA-50 and SMA-200
- —Daily volume of $105.02 million is 8.49% below the 30-day average
- —RSI at 50.4 is neutral while a negative MACD histogram keeps momentum bearish
Why it matters: The drop came without a clear catalyst and on subdued volume, pointing to broad market weakness rather than Algorand-specific issues; reclaiming the $0.1223 VWAP is the key signal.
Source: DiarioBitcoin