Algorand processes record transactions while price faces support pressure
Algorand (ALGO)
Editor:
Eugene Serbin
tradersunion.com reports that Algorand (ALGO) is trading at $0.1239, reflecting a 6.56% decline for the day. The asset remains below its key moving averages, indicating short- and medium-term weakness. Despite this, Algorand achieved a new weekly throughput record by processing 1.03 million transactions in a single day on September 28.
This milestone underscores heightened on-chain activity and increased user and developer engagement. Daily trading volumes reached between $216 million and $290 million, which is substantially above the 30-day average. Renewed attention on Algorand's x402 AI-payments challenge also contributed to this recent activity.
However, price action has remained under broader selling pressure. ALGO is trading below its MA-20 at $0.1274 and its MA-50 at $0.1294 on the hourly chart. It remains above the long-term MA-200 at $0.0978, but the Ichimoku Kijun on the daily chart is positioned at $0.1322 as immediate resistance.
Momentum signals are weak, with the RSI at 42.48 and the MACD in sell territory. The probability of a further downward move is assessed at 67%, while a rebound has a 33% probability. A break above the Kijun could prompt a bullish move, but a drop below $0.1155 would likely accelerate declines.
How the market reacted
Whalio's own Binance spot order flow for ALGO, measured when this story was written up on 30 September 2026. Not the outlet's figures.
Whalio data shows ALGO trading at $0.1256 with a 1-hour buy ratio of 59.9%, indicating strong short-term buying interest. This contrasts with the 4-hour buy ratio of 49.8%, suggesting that buying pressure is fading over a slightly longer timeframe. The 24-hour buy ratio sits at 50.7%, showing a balanced market over the full day. The 1-hour volume delta is positive at +$44,629, meaning more money is flowing into buys than sells in the short term. However, the 4-hour volume delta is negative at -$6,919, indicating net selling pressure over that period. The 24-hour volume delta is +$251,237, confirming net buying over the last day despite the negative CVD of -$78,493.
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 52.4%, making the latest day's 50.7% ratio 1.7 points lower than the average. This suggests that buying interest has slightly weakened compared to the weekly norm. Volume was 2.07 times the average, indicating an unusually active trading day. The coin saw a price change of +12.0% over the eight-day period. Net buying volume totaled +$3,097,034 over the eight days, with net buying occurring on six of those seven days.