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Algorand price drops 10% after failing to sustain gains amid fading speculation and selling pressure

Market News
30 Sep 2026
AMBCrypto
View Source
Bearish
Algorand price drops 10% after failing to sustain gains amid fading speculation and selling pressure

Algorand (ALGO) surged to $0.14 driven by speculative demand linked to the X402 challenge and AI payment interest but quickly pulled back to $0.12, down 10%. The drop was fueled by intense selling pressure as speculative activity faded, causing investors to exit positions and reduce trading volumes. Key indicators like Open Interest and trading volume declined sharply, signaling reduced market activity and risk appetite. If selling continues, ALGO could fall further to $0.11, but a daily close above $0.13 may signal a potential reversal.

Following Algorand's recent price pullback from $0.14 to $0.12, ALGO is trading at Rp2.227 on Pluang as of Sep 30, 2026 17:21 WIB, down 6.35% in the last day. The platform shows a market cap of Rp20,17 trillion and a 24-hour trading volume of Rp3,92 trillion. Order activity on Pluang is nearly balanced with 47% selling and 53% buying, while typical hold time is 129 days, indicating steady investor engagement despite recent volatility.

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