Algorand (ALGO) - Algorand's had a bad day. Places to buy

Algorand suffered after a recent breakout attempt, where an old daily Dynamic support flipped to resistance and gave us a little local double top. After this those who bought the breakout no doubt have dumped it and caused it to drop to the current lower dynamic support (green) which it is currently testing. The technicals look bad. But wont be confirmed until this 4H closes. Depending on how much you like the ALGO project, you could watch this current 4H candle and try accumulate at this dynamic support if it looks like it will close above price support and OBV key level. From here we may see a recovery. The alternative is this support is broken and we head back down to the 1.5 range. Buyers have been making slightly higher swing lows each time, but they have been failing to show strength.

Note the OBV signaling a strong sell off after attempted break. We would want it to hold that key level

Watch and act at this level, risking the recovery. OR wait until it returns to the 1.6-1.5 level and look for some signs of renewal there