Algorand jumps nearly 7% as ALGO trading launches on Robinhood, but long-term trend remains uncertain.

Algorand's price surged nearly 7% in one day after ALGO became tradable on Robinhood Crypto in the U.S., sparking bullish momentum. Despite this short-term rally, the weekly chart shows ALGO is still in a long-term downtrend, requiring a move above $0.1456 to confirm a sustained uptrend. Traders are advised to take profits at local resistance levels around $0.121 and $0.133 while watching the critical $0.105 support level. A breakout above $0.1456 could offer a clearer buying opportunity after a potential retracement.