Algorand (ALGO) Shows Growing User and Whale Activity but Faces Resistance Challenges
The post Algorand (ALGO) Shows Growing User and Whale Activity but Faces Resistance Challenges appeared on BitcoinEthereumNews.com.
Algorand (ALGO) experiences a surge in user activity and whale inflows but struggles to break through key resistance levels, reflecting mixed market sentiment. Despite increased retail participation and whale accumulation, derivatives data indicates low conviction, suggesting cautious investor behavior amid consolidation. According to COINOTAG, “ALGO’s recent spike in active addresses highlights growing adoption, yet price action reveals underlying hesitation among traders.” Algorand’s rising user base and whale interest contrast with subdued price movement, signaling a critical phase for ALGO’s breakout potential. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); Whale Accumulation Signals Renewed Interest in ALGO Recent data reveals a notable uptick in whale activity, with large holders increasing their ALGO inflows by 68.77% over the past week. This shift follows a significant decline in netflows during the previous month, indicating a reversal in sentiment among key investors. The 90-day inflow metric corroborates this trend, showing a substantial 227.50% increase, which aligns with a broader accumulation phase. Such renewed confidence from whales could provide essential support as ALGO tests the lower bounds of its current price range, potentially setting the stage for a breakout if sustained. ‘, ‘ 🔒 Secure and Fast TransactionsDiversify your investments with a wide range of coins. Join now! ‘, ‘ 💎 The Easiest Way to Invest in CryptoDont wait to get started. Click now and discover the advantages! ‘ ]; var adplace = document.getElementById(“ads-binance”);…
Filed under: News - @ June 8, 2025 6:27 pm