Algorand Breaks Trend Line as Analyst Targets $2.37
Algorand (ALGO)
Editor:
Eugene Serbin
DailyCoin reported that Algorand has reclaimed a long-running resistance trend, prompting analyst Javon Marks to map a target of $2.37. Marks noted in a September 28 update that the asset is surging off support while holding a breakout from a massive resisting trend that had previously capped price action. The analyst stated that once the market clears this structure and defends the breakout zone, technicians often view the old resistance as a launchpad rather than a ceiling.
This specific target implies a more than 1,650% advance from current levels, though an earlier June map had framed the same zone as a move of over 2,100%. The difference in percentage simply reflects the higher starting point after the later rebound, while the destination remained unchanged. Marks described this as an aggressive, full-cycle style target rather than a short-term scalp level.
The case depends on the breakout remaining valid and the broader market providing room for altcoins to rise. Long descending resistance lines matter because they concentrate supply, triggering reactions from traders who bought lower or shorted the trend. If Algorand continues to accept price above the broken line, the structure shifts from a range under resistance to a trend repair with upside room. The immediate indicator is whether the asset holds the breakout and support bounce to keep the bullish count alive.
How the market reacted
Whalio's own Binance spot order flow for ALGO, measured when this story was written up on 2 October 2026. Not the outlet's figures.
Algorand is trading at $0.1226 with a 1-hour buy ratio of 69.6%, indicating strong immediate buying pressure compared to the 46.8% ratio over the past four hours. This short-term surge is supported by a positive volume delta of +$34,224 in the last hour, suggesting that buyers are currently outpacing sellers in the most recent trades. However, the four-hour volume delta shows -$87,327, revealing that selling pressure has dominated the broader intraday timeframe despite the recent spike. Over the last 24 hours, the buy ratio sits at 46.2% with a negative volume delta of -$556,364, indicating that net selling has outweighed buying over the full day. The cumulative volume delta (CVD) for the 24-hour close is +$163,529, showing that while there was net buying pressure by the end of the period, the immediate momentum has shifted toward the short term. Spot volume for the day reached $7,303,746 across 73,264 trades, with net buying occurring for 14 of the 24 hours.
The latest daily buy ratio of 54.0% sits at the 90th percentile of the last 322 days, against a median of 49.9% - among the strongest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for ALGO, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 51.6%, making the current 24-hour ratio of 46.2% slightly below the weekly norm by 5.4 percentage points. Trading volume over the last eight days was 0.76 times the average, indicating that activity has been lighter than usual for this period. The coin saw a price change of +8.3% over the eight-day window, with a total volume delta of +$1,993,773 recorded. Net buying occurred on six of the seven days in the preceding week, suggesting a generally positive trend that has recently cooled slightly in volume intensity. This day represents a deviation from the weekly average in terms of buying dominance, though the broader eight-day trend remains positive.