The price of (ALGOUSD) rose slightly in its last intraday trading, amid fluctuated moves, supported by the emergence of the positive signals on the (RSI) until reaching overbought levels, which indicates the return of the losses again amid the dominance of the main bearish trend on the short-term basis and its trading alongside a bias line, with the continuation of the dynamic resistance that is represented by the price trading below the EMA50.

Therefore, our expectations suggest a decline in the (ALGOUSD) price in its upcoming trading, if the resistance settles at $0.1771, to target the support level at $0.1485.

Todays forecast: Bearish