$ALGO is sitting on a major long-term channel support and this isn’t the first time.

Looking at previous touches of this lower trendline, price reacted with strong bounces from this zone.
We may still see a brief dip or wick below the support to grab liquidity, similar to past reactions, but this area has historically acted as a solid base.
RSI is already near the oversold region, while price is extended into support, conditions that often lead to relief moves.
Let’s see how price reacts here.
DYOR, NFA
#ALGO