ALGO jumps 30% intraday on short squeeze but remains in long-term demand zone.

ALGO surged 30% intraday driven by a short squeeze that liquidated $1.07M in shorts versus $147K in longs, with derivatives volume and open interest spiking significantly. Despite this sharp move, ALGO remains within a long-term demand zone on the weekly chart, showing no confirmed breakout yet. Key resistance at the 200-day EMA around $0.132 must be cleared for a trend shift, with upside targets near $0.34-$0.37 if that happens. Recent catalysts include expanded staking access via a major neobank and recognition of ALGO's quantum-resistant security features, which may support further gains.