Algorand drops 7.41% as support faces pressure
Algorand (ALGO)
Editor:
Eugene Serbin
tradersunion.com reports that Algorand (ALGO) has fallen 7.41% in the last day to trade at $0.0887. The asset is currently positioned below its key moving averages, indicating sustained pressure on both short and long-term timeframes. On the hourly chart, ALGO/USD is trading beneath the MA-20 at $0.0912, the MA-50 at $0.0941, and the long-term MA-200 at $0.0961.
The Ichimoku Kijun line sits at $0.0932, marking immediate resistance for the asset. Momentum indicators are negative, with MACD and ADX both registering strong sell signals. The RSI is at 36.46, placing it well into sell territory, while the CCI echoes this bearish bias.
Conversely, the Stochastic RSI shows an overbought configuration that contrasts with the overall weakness. Bull/Bear Power indicates seller dominance, while the Awesome Oscillator remains neutral. Analysts highlight persistent bearish momentum, with trading activity pointing to downside risk.
The probability of an upward move is very low, while a further decline remains highly likely. A bullish outcome would require a move above the immediate resistance at $0.0932. Breaching $0.0831 could trigger accelerated downside momentum.
How the market reacted
Whalio's own Binance spot order flow for ALGO, measured when this story was written up on 16 September 2026. Not the outlet's figures.
Whalio data shows ALGO trading at $0.08890 with a 1-hour buy ratio of 52.0% and a 4-hour buy ratio of 52.8%. These short-term readings are higher than the 24-hour buy ratio of 50.8%, suggesting that buying pressure is building in the immediate term. Volume delta is positive across all timeframes, with the 24-hour delta reaching +$40,383. This indicates that buy volume has exceeded sell volume over the last day. The cumulative volume delta (CVD) for the 24-hour close is +$63,718, confirming net buying activity. Spot volume for the period was $2,762,032 across 25,245 trades.
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 50.1%, making the current 24-hour ratio of 50.8% slightly higher by 0.7 points. Volume was at 0.97x the average, indicating near-normal trading activity compared to the weekly baseline. The price has changed -11.8% over the past 8 days, with a total volume delta of +$138,281. Net buying occurred on 3 of the 7 days in the preceding week. This represents an ordinary day for the coin relative to the weekly average, with volume nearly matching typical levels.