FIFA Shift Fuels ALGO’s Volatility: Can its Bullish Community Counter a 7% Weekly Drop?

Algorand (ALGO) is experiencing a significant decline, dropping 5.21% in the past 24 hours and a further -6.92% over the last seven days. This puts it below both the overall cryptocurrency market and its smart contract rivals. While the price hovers just above crucial support levels at $0.21, a drop below this could see prices dip to $0.19-$0.195. The upside targets are at $0.225 and $0.24; however, momentum remains weak in the short term and volume indicators show a neutral to bearish trend.