Algorand is showing signs of a price rebound, supported by the TD Sequential buy signal on the daily chart. Currently, ALGO is facing resistance at 0.4020 USD amid a consolidation phase.
The funding rate for ALGO futures is slightly negative at -0.0054, indicating dominance of short positions. Whale activity remains low, suggesting large holders are waiting for a confirmed breakout.
If ALGO breaks through its current resistance, it could attract increased whale participation and bolster bullish momentum in the market.
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