The post Algorand spikes 17% – Will resistance cap ALGO’s upside at $0.11? appeared on BitcoinEthereumNews.com.

Algorand [ALGO] has continued to uphold a strong upward trend in the last four days. This momentum is still in place, as it has risen by 17% in the last 24 hours. The steady surge indicates a constant buying pattern and not a one-time spike. Interestingly, most on-chain metrics also spark bullish signals. Algorand’s whale activity and derivative metrics are in favor of the market bulls. A key supply zone stands in the way ALGO has witnessed an aggressive bullish run over the last four days. The token has maintained its strong momentum with a 17% increase over the last 24 hours. Despite the ongoing rally, a nearby supply zone could slow things down. At the time of writing, ALGO was testing a critical supply zone around $0.1133. This zone represents a pocket of potential selling pressure where previous moves may have stalled. A break past the supply zone will see the token prices rally to test the next resistance level at around $0.15. The likelihood of the breakout coming into play is close to certain, more so given the current aggressive push from the token’s bulls. Source: TradingView On-chain metrics point to a potential breakout Most of Algorand’s on-chain metrics were sending bullish signals at the time of writing. The network’s whales are making aggressive moves by accumulating more orders at the current trading price. This suggests confidence among larger players, even as price trades near a point of supply. Source: CryptoQuant That’s not all; most derivative data also plays along with the trend. Binance has the highest Open Interest at 14.75M, as Bybit follows suit with a 66.66% increase in volume in the last 24 hours. KuCoin deviated from the rest with a sharp decline in volume but an increase in Open Interest. On sentiment, Binance has a…

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Filed under: News - @ April 3, 2026 6:23 pm