Summary
Algorand (ALGO) had a good run but investors are still facing losses as the price is far below its all-time high. Most investors are underwater and unlikely to see profits unless the price surpasses $1. Lack of profits could actually benefit the altcoin by reducing selling pressure. The price is currently near a resistance level at $0.32 and could continue to rise if it breaches this level, but selling pressure could also cause a drop to $0.30. Always do your own research before making financial decisions.
Key Points
1. Algorand experienced a significant rally over the last few days, but many ALGO holders are still facing losses and disappointment.
2. ALGO initially reached its all-time high shortly after launch in June 2019 but has struggled to regain that level since then, currently trading at $0.31.
3. Despite the recent price increase, a large percentage of ALGO investors are underwater, with 85% of all holders in this category, making it challenging for them to see profits unless the price surpasses $1.