• It is estimated that this year's World Cup will bring Algeria some publicity and planning

• The dynamic password ALGO of the device cannot break through the important friction resistance of USD 0.36

• With the decline of TVL, ALGO has returned to the lowest price

Algorand ALGO/USD will become the official blockchain technology advertiser in this year's FIFA World Cup. This strategic cooperation will be very large to generate publicity and planning for blockchain technology. However, this did not stop the local dynamic password ALGO from collapsing.

In a market characterized by adjustment, ALGO rose 0.20% in the last 24 hours of Friday. However, tokens are still in the red zone, losing 5.46% in the past week. ALGO is languishing due to the breakthrough of US $0.34. The mentality of all data encryption industries is still weak, and ALGO suffers more damage.

According to DeFi Llama, the total amount locked in Algeria is 208.5 million dollars. TVL is lower than the $231 million after the token tried to break through $36 on August 8. This decline indicates that the property in the agreement has declined, which may lead to a downward spiral in the price. TVL still jumped from US $100 million in early July.

Algeria is moving towards a new low as prices fall below the moving average system

Origin – TradeView

Performance indicators show that the momentum of ALGO has weakened. Token trading is less than the 21 day and 50 day moving average systems. The potential bottom of ALGO is $0.29. If the bear market in the stock market continues to weaken, the token may fall to a new low. If the price is to continue, both sides must start quickly. If the token gets rid of the friction resistance of $0.36, a long-term upward momentum may occur.

Summary

Algorand is still empty, and the next bottom is $0.29. If both sides do not stop the decline, the price is still very easy to hit a new low.