Algorand (ALGOUSD) declined in its latest intraday trading, pressured by negative signals on the RSI after reaching strongly overbought levels. The price remains under the control of the short-term bearish trend and its descending line, with the latest drop pushing it below the 50-day SMA, which has intensified the negative pressure.

Therefore, we expect the token to fall in the upcoming sessions, as long as it remains below 0.2434, targeting the first support level at 0.2344.

Todays price forecast: Bearish.