Algorand Price Jumps 71% But Most Holders Still Face Losses

Algorand (ALGO) price has surged 71% recently but 85% of holders are still facing losses and remain "underwater" on their investment

Nearly 16.1 million of 20 million ALGO holders bought at higher prices and need a 926% rally to reach break-even

Despite the price jump, only 20.6% of holders are currently in profit, a minor 2.1% increase

Lack of profits reduces likelihood of mass selling and allows rally to potentially continue to resistance levels of $0.32 and $0.35

If ALGO fails to breach $0.32 resistance, price could fall back to supports at $0.30 or $0.28