ALGOUSD is preparing to attack a pivotal resistance - Analysis - 28-11-2024 $ALGO

The price of ALGORAND (ALGOUSD) stabilized on the rise during its recent trading at the moment levels, supported by its continuous trading above its previous 50-day simple moving average, and under the control of the short-term upward corrective trend, but in light of the above, we notice the occurrence of negative signals in the relative strength indicators, after they had previously reached areas of severe saturation with buying operations, which may curb the currency's gains. #Binance #ALGO

Therefore, we expect the currency price to rise during its upcoming trading, as long as the support level of $0.2532 remains stable, targeting the pivotal and nearby resistance level of $0.3296 in preparation for attacking it.

The expected direction for the upcoming trading: Likely to rise