Algorand price drops 10%, with further decline likely amid futures market pressure.

Algorand (ALGO) experienced a 10% price drop recently, with technical indicators like Bollinger Bands and the Average Directional Index signaling a potential further decline of about 10%. The perpetual futures market shows significant capital outflows and a rise in short positions, suggesting traders expect continued downside. However, spot investors are accumulating ALGO, injecting nearly $496,000 in the past day and $1.98 million over the week, which may help limit losses or trigger a reversal if buying pressure sustains.