Algorand (ALGO) is currently trading at $0.088075, reflecting a 24-hour change of -3.07%. The daily range has been relatively tight, with a high of $0.091579 and a low of $0.087312, indicating low volatility in the immediate market.

Volume stands at 34,480,044, with a volume-to-market cap ratio of 4.40%, suggesting moderate trading activity. The hourly moving averages show a bearish trend, with the 8 SMA at $0.0892, indicating a decrease of 1.30%, and the 13 SMA at $0.0896, down 1.74%, while the longer-term 55 SMA and 144 SMA indicate slight upward movement.

The 1-hour RSI is currently at 33, signaling oversold conditions, while the 7-day RSI at 48 shows a neutral position. The price has declined by approximately 0.94% over the past week and is down 27.72% over the last month, highlighting significant bearish pressure.

Given the current technical indicators and price action, the short-term outlook appears weak, with resistance around the 8 and 13 SMAs. The lack of buying momentum is further confirmed by the low RSI readings, suggesting continued downward pressure.

Overall, Algorand's current price level is significantly below its all-time high of $3.56, which reflects a considerable loss in value. Considering the negative momentum and bearish indicators, the recommendation for ALGO is to Sell, as it may continue to face headwinds in the near term.