Flow

Taker

Algorand

Resistance

Optimism

<ul>
 <li>CoinTrade launched 4.4% ALGO staking, boosting interest around Algorand.</li>
 <li>Long-term charts still point to possible downside toward $0.057.</li>
 <li>Key resistance at $0.105 could open a path toward $0.128.</li>
</ul>
<p><a href="https://cryptonewsland.com/algo-downtrend-pattern-weakens-chart-indicates-massive-surge-ahead-can-algo-price-hit-7-this-cycle/" rel="noopener noreferrer nofollow">Algorand — ALGO</a>, has returned to the spotlight after a fresh development from Japan. Crypto exchange CoinTrade recently introduced ALGO staking with a 4.4% annual yield. The announcement sparked fresh interest around the Layer-1 network. Despite that optimism, technical charts still paint a cautious picture. Long-term bearish patterns remain active, leaving traders divided over the next major move. Market participants now watch closely for signs of recovery or another leg lower.</p>
<figure class="wp-block-embed is-type-rich is-provider-x wp-block-embed-x">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/i/status/2067730326634332201
 </div>
</figure>
<h2 class="wp-block-heading" id="long-term-wedge-keeps-bearish-pressure-alive">Long-Term Wedge Keeps Bearish Pressure Alive</h2>
<p>CoinTrade announced <a href="https://coinmarketcap.com/currencies/algorand/" rel="noopener noreferrer nofollow">ALGO staking</a> on June 17, offering investors a 4.4% annual return. The news provided a positive narrative for the network. However, technical analyst Chart Nerd noted that ALGO still trades inside a massive falling wedge. That pattern stretches back to the highs recorded during 2021. Current support rests between $0.08 and $0.085. According to Elliott Wave Theory, another decline remains possible. Chart Nerd believes a fifth downward wave could send ALGO toward $0.057. Such a move could represent the final low of the cycle.</p>
<p>A deeper drop might eventually create conditions for a long-term breakout. For now, <a href="https://cryptonewsland.com/algorand-eyes-rebound-blockdag-unlocks-50x-roi-ahead-of-its-january-26-presale-close-which-crypto-should-you-buy-now/" rel="noopener noreferrer nofollow">downside risks remain</a> present. Traders continue watching support levels closely. Market sentiment across crypto also adds uncertainty. On the daily chart, swing points remain intact. Resistance sits near $0.145, while support stays around $0.079. Neither level has been broken. A rally during April followed optimism around post-quantum computing readiness. Even then, buyers failed to challenge the yearly swing high.</p>
<p>Recent weakness pushed ALGO below the $0.10 level. Buyers responded with a bounce during the past week. Momentum indicators also hint at improving conditions. <a href="https://www.investopedia.com/terms/m/mfi.asp" rel="noopener noreferrer nofollow">Money Flow Index</a> readings entered oversold territory before recovering toward neutral levels. Such behavior often signals fading selling pressure. Meanwhile, On-Balance Volume continues climbing steadily. That trend suggests accumulation remains active despite recent price weakness.</p>
<div id="media_image-2" class="widget widget_media_image flexCenter flex-col bg-white dark:bg-slate-800/50 rounded-md min-h-[100px] cnl-banner p-2 mb-6"><a href="https://t.me/EliteFXLabs" rel="noopener noreferrer nofollow"><img width="1280" height="698" src="https://cryptonewsland.com/wp-content/uploads/2026/04/EliteFXLabsBanner-0.webp" alt="EliteFXLabs Banner"></a>
</div>
<h2 class="wp-block-heading" id="key-levels-could-shape-algo-s-next-move">Key Levels Could Shape ALGO’s Next Move</h2>
<p>The three-month Spot Taker CVD paints a balanced picture. Buyers and sellers currently share control. Such readings contrast with the strength seen through On-Balance Volume. Short-term traders should monitor $0.095 and $0.105 carefully. Those zones represent nearby support and resistance. A break above $0.105 would strengthen bullish momentum. Fibonacci retracement levels suggest $0.128 could become the next upside target.</p>
<p>Even with improving signals, caution remains important. Broader crypto sentiment still lacks strong conviction. Relief rallies can attract emotional decisions. Traders should avoid chasing sudden moves higher. ALGO continues balancing between optimism and caution. Staking rewards have boosted attention around the network. Yet long-term technical risks still deserve respect. The coming weeks could determine whether buyers regain control or bears extend the downtrend.</p>

ALGO Faces Bearish Wedge as 4.4% Staking Rewards Fuel Fresh Optimism

Table of Contents

Crypto News Land

Other articles published on Jun 22, 2026

Join our free newsletter for daily crypto updates!