The price of Algorand shows signs of stabilization after a recent breakout, returning to a key support level, confirmed by both technical and fundamental factors.
Technical Analysis of Algorand
Algorand is currently stabilizing just above a critical support zone following a breakout from a confirmed double bottom pattern. This pattern established firm support at the $0.15 and $0.16 levels, with the neckline positioned at $0.26. After a decisive breakout in mid-July, ALGO rallied toward $0.34 before pulling back to the neckline area, which is now being retested.
Momentum Indicators
The Relative Strength Index (RSI) has calmed down slightly to 53, reflecting a momentum reset that reinforces the bullish setup without signs of bearish pressure on short-term charts. This change occurred after ALGO peaked at $0.34, entering an overbought state.
Fundamental Data
According to the Q2 2025 Transparency Report, the Algorand network surpassed 3 billion transactions and reported a 28.7% increase in staking activity compared to the previous quarter. Additionally, the total value locked in Real World Assets (RWA) on Algorand rose by 12.7%, driven by initiatives like the tokenized US Treasury ETF certificate.
The support at the neckline level of $0.26 plays a crucial role in determining the future direction of Algorand's price, while the growth in fundamental metrics indicates positive trends for further development.
