The daily chart reveals that ALGO has been moving sideways since late August, with the Relative Strength Index (RSI) hovering near neutral levels around 46, suggesting a balance between buying and selling pressure.
Market analyst Ali has highlighted $0.22 as a critical support zone. In his latest chart analysis, he noted that as long as ALGO defends this level, the possibility of a rally toward $0.29 remains intact. The projection outlines a potential rebound first toward the $0.25 – $0.26 range before testing higher resistance levels near $0.29.
This comes after ALGO struggled to sustain momentum from its July recovery, when it briefly spiked above $0.35 before sliding back into a consolidation range. With the market now stabilizing, traders are closely watching whether $0.22 can act as a launchpad for a new upward move.
If buyers fail to defend the support, however, a deeper correction toward $0.21 could come into play, weakening the bullish scenario.
For now, ALGO sits at a crossroads, with the next few sessions likely to determine whether it breaks back into a positive trend or faces extended pressure.
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