Algorand's native token ALGO is trading at $0.0957, pinned beneath a cluster of overhead moving averages as aggressive taker sell flow and a wave of new short positions push the price lower. The altcoin has lost ground in the past 24 hours, and traders are bracing for a further drop to the $0.085–$0.087 range within the next two days.
Price Action and Technical Resistance
The $0.0957 level sits directly below a wall of moving averages that have acted as overhead resistance since late last week. Each attempt to break higher has been met with fresh selling, and the charts show taker sell orders consistently outweighing buyer demand. Without a catalyst to shift momentum, the path of least resistance remains down.
Short Sellers Pile In
Data from major exchanges shows a noticeable uptick in short positions on ALGO over the past 12 hours. The increase in short open interest comes as the token failed to reclaim the $0.10 mark, a psychological level that had provided support earlier in the month. The combination of technical resistance and bearish positioning has created a feedback loop: lower prices attract more shorts, which in turn add to the selling pressure.
Base Case Prediction for the Next 48 Hours
The base case scenario outlined by market analysts points to a slide toward the $0.085–$0.087 region within 48 hours. That zone represents a support level last tested in early January. If ALGO breaks below $0.085, the next floor sits near $0.08, though that outcome is not considered the baseline expectation at this point. The immediate question is whether buying interest emerges near $0.086 or if selling exhausts itself first.
For now, the token continues to trade under the weight of its own overhead supply. With shorts in control and no bullish news on the horizon, the next 48 hours look likely to test the patience of Algorand holders.
