TLDR:
- ALGO price defends $0.20 zone despite market dip, showing signs of bullish resilience.
- Staked ALGO rose 54%, while online accounts jumped 132% in just five months.
- MidasRWA’s mTBILL enables Treasury ETF access on Algorand with a 4.06% yield.
- Technical levels suggest a possible move toward $0.26 if support remains intact.
Algorand (ALGO) is showing renewed signs of strength following a recent test of the $0.20 support level.
Despite a broader market dip, ALGO is holding ground and piquing interest through a mix of technical signals, increased staking participation, and new access to U.S. Treasury yields.
With more users engaging and decentralized finance (DeFi) activity gaining traction, the token is beginning to reflect a bullish setup.
Analysts are watching as ALGO retests former levels that previously triggered upward momentum. Continued community growth and DeFi developments are driving optimism even amid short-term volatility.
ALGO Price Tests Support Levels Amid Market Pullback
According to analysts, ALGO recently retested the $0.20 support zone after facing resistance at $0.26. CryptoTony pointed out that ALGO is “now in full send” mode following the support retest, which historically aligns with bullish reversals.
The Birb Nest added that the $0.215 zone held strong, producing a bounce. If the price holds above this range, a move toward $0.26 is expected, with $0.323 as the next resistance. However, a daily close below $0.215 may lead to a drop toward $0.18.
On the daily chart, price was rejected at the $0.26 resistance level, followed by a retest of $0.215, which held as support and resulted in a bounce. We would like to see this level continue to hold, with a push toward $0.26 as the first target. A daily candle close above… pic.twitter.com/XiekjilIU3
— THE ₿IRB NEST (@TheBirbNest) May 29, 2025
On the 4-hour chart, the $0.20 level remains a critical zone. The Birb Nest stated that this support has been tested multiple times and continues to hold.
As of now, Algorand trades at $0.2042, with a 24-hour trading volume of over $92 million. It reflects a 6.15% dip in one day and a 16.49% loss over the past week.
Staking data over the last five months suggests increasing confidence in the network. CryptoTony noted a 54% increase in total ALGO staked and a 132% jump in online accounts.
Meanwhile, the Algorand Foundation’s stake has dropped 33%, suggesting wider community participation. This trend may support price stability as control shifts toward users rather than centralized holdings.
DeFi Access to U.S. Treasury ETFs Launches on Algorand
New DeFi opportunities are also adding value to ALGO. BullifyX reported that MidasRWA launched mTBILL on Algorand, giving users access to U.S. Treasury ETFs without a minimum investment.
The platform offers a 4.06% yield and allows fast, low-cost atomic swaps. One of the first swaps reportedly moved $2 million in two seconds for under half a cent.
$ALGO JUST UNLOCKED WALL STREET YIELD 🚨
This is not your average update it’s a DeFi power move@midasRWA just launched mTBILL on #Algorand, giving everyone access to U.S. Treasury ETFs like @BlackRock’s IB01 & BUIDL no $5M required. 👀🔥 4.06% yield
🔥 No investment minimum… pic.twitter.com/hOlK08EdjO— BullifyX (@Bullify_X) May 29, 2025
With technical patterns stabilizing and on-chain metrics improving, analysts believe ALGO could test higher resistance zones soon. Continued strength at the $0.20 mark, rising user activity, and growing DeFi participation are shaping a more resilient price base.
