The Algorand price has been downward for quite a few months now. The coin has fallen by 1.8% over the last 24 hours. The coin has lost over 4.7% of its market value in the past week. Algorand had been consolidating on its chart over the last few weeks, but the consistent lateral trading has pushed the bulls out of the market. The technical outlook has sided with the bears, with no clear indication of the price turning around in the coming trading sessions. Ever since ALGO lost the $0.28 price level, the coin has been unable to stop its downtrend. The aforementioned price floor acted as a crucial level for the altcoin. The Algorand price has also remained unaffected by positive changes in major market movers’ prices. Since the altcoin was rangebound for a while, buyers lost interest and rushed to sell the altcoin. Algorand has lost over 30% in the month of December itself. At the time of writing, the ALGO price is 96% below its all-time high from 2021. The market capitalization of Algorand has witnessed a considerable decline, in ..
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