Algorand jumps 10%, flips 100-day EMA amid rising speculation but profit-taking risks pullback

Algorand (ALGO) rebounded from a low of $0.105 to trade around $0.116, up over 10% as it flipped its 100-day moving average. The surge was driven by increased speculative demand, with derivatives volume and open interest rising, indicating strong market participation. However, profit-taking intensified, with more sellers than buyers on exchanges, which could pressure prices down again. ALGO is currently testing resistance at $0.12, and if momentum holds, it could move toward $0.13, but downside risk remains if selling persists.