Will ALGO Price Sustain Above $0.088?

Declining Trend: ALGO price action shows a downward trend in the daily chart.
Critical $0.10 Mark: ALGO fails to sustain above the $0.10 level, indicating bearish pressure.
Bounce-Back Potential: A rebound from $0.088 could retest the $0.10 ceiling.
Current Price: ALGO is trading at $0.090, forming a Doji candle.
Resistance Trendline: A resistance trendline in the daily chart is limiting upward movement.
RSI Indicator: A minor bullish divergence in RSI suggests a potential comeback for ALGO.
50-Day EMA: The price fails to sustain above the 50-day EMA, indicating bearish momentum.
Morning Star: The Doji candle hints at a possible morning star pattern, appealing to sideline traders.
Optimistic Scenario: If ALGO sustains above $0.088, it could reclaim momentum and potentially cross $0.15 this October.
Pessimistic Scenario: If ALGO fails to regain upward momentum, it could reach a new low of $0.081.
Market-Wide Recovery: Growing expectations of a market-wide recovery could positively impact ALGO.
Distribution Phase: Despite the Uptober season, ALGO faces intense selling pressure, leading to another distribution phase.