Algorand (ALGO)

Algorand (ALGO)
Algorand's blockchain is adept at tokenizing a variety of assets, from art and music royalties to stablecoins, offering scalability and efficiency. This capability positions it as a top choice for both creators and investors.

At the time of writing, Algorand crypto was trading close to $0.142 recording a negative intraday development of 4.70%. It ranks 63rd in the cryptoverse with a live market capitalization of $1.174 Billion.

From a technical outlook, the price hovers below all the key Exponential moving averages of 20, 50 and 200 days suggesting a bearish trend prevailing in the short term as well as long term. Recently, the ALGO price has suffered rejection from the 20 day EMA and may drop towards the recent support at $0.128.