Integration of EVM wallet users lifts Algorand over 8% on strong demand

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Algorand gains 8.76% on EVM integration

Highlights

Algorand's xChain Accounts launch enables direct access to its dApps by EVM wallet users, expanding cross-chain participation.
Recent protocol upgrades, including post-quantum cryptography and x402 HTTP payment standard support, boost Algorand's technical resilience despite declining daily on-chain transactions.
ALGO shows short- and medium-term bullish momentum with resistance overhead; expected trading range is $0.1100 to $0.1250, with sideways action favored near current levels.

Interoperability boost from xChain as on-chain activity softens

Algorand has launched xChain Accounts, enabling users of EVM-compatible wallets like MetaMask to access Algorand dApps directly, beginning with the Alpha Arcade platform. This integration expands interoperability and increases potential participation from Ethereum ecosystem users, supporting greater network engagement. Alongside this, recent upgrades such as the adoption of post-quantum cryptography and support for the x402 HTTP 402 Payment Required standard further strengthen technical capabilities, though on-chain data indicates a dip in daily transaction activity even as network fees remain stable.

Resistance at long-term average amid early momentum signals

SMA-20 is at $0.1097, SMA-50 at $0.1027, and SMA-200 at $0.1221, with the Ichimoku Kijun level at $0.1127 serving as immediate support. The price remains below long-term resistance at the SMA-200, while support is reinforced by both the SMA-20 and Kijun. On the daily chart, the MACD gives a strong buy signal and the ADX is at a neutral 16.99, indicating emerging but not strong trend strength. RSI at 55.4 and Stoch RSI at 49.0 are both mildly bullish and not overbought, with the CCI neutral. BBP shows strong buyer dominance intraday, while the Awesome Oscillator is neutral.

Sideways price outlook as momentum struggles with resistance

For the next five trading days, price movement is expected within the $0.1100 to $0.1250 volatility band relative to current levels. There is less than a 20% chance of a further increase, with a sideways scenario favored as short-term momentum encounters resistance near the SMA-200. If price decisively moves above $0.1221, a push toward the weekly high may follow, while a break below $0.1127 could trigger further downside toward the lower end of the range.

Viktoras Karapetjanc, expert at Traders Union, sees Algorand's EVM wallet integration as a strong step for expanding network participation and long-term adoption. He believes recent technical advances add credibility and widen use cases, despite cooling dApp demand. Current technicals reflect upward momentum, but price still faces resistance at the SMA-200. Sideways consolidation is likely in the short term as the market absorbs these changes. "Continued interoperability upgrades and strong fundamentals put Algorand in a promising position for the next adoption wave," he says.

Earlier, analysts noted that Algorand was experiencing persistent bearish momentum amid limited signs of a recovery. The recent shift in technical signals, coupled with new interoperability initiatives, suggests traders should closely monitor price action near the SMA-200 as a sustained break above could spark renewed bullish momentum.

Source of Data: ALGO Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.