Algorand [ALGO] traders need to know this before they make their first trade
The last few days have seen a different state of the cryptocurrency market. The one in which recovery is at the fore.
Well, from the lows of $0.27, Algorand has only risen by 24.25% to date. However, other altcoins such as Lido DAO have jumped by more than 320%. This is because despite observing positive cues from price indicators, ALGO is susceptible to saturation which will ultimately flip its momentum.The Average Directional Index is yet to gain strength for the active trend, which the Parabolic SAR indicates is an uptrend.
This is visible on the Relative Strength Index , which was very close to the overbought zone on 20 July.
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