Algorand price rises 3% as RWA sector eyes potential breakouts

Algorand (ALGO) recently experienced a 3.03% price increase, trading at approximately $0.12 on Binance. Despite the price gain, futures open interest on Binance declined by 1.15% over a 24-hour period. Technical indicators show the token trading near its moving averages, with $0.11 and $0.14 serving as key conditional support and resistance levels.

In the broader Real World Asset (RWA) sector, Algorand is being monitored alongside ONDO and Injective (INJ) for potential breakouts. ALGO is currently testing major resistance zones that have limited its rally earlier this year. Analysts suggest that a sustained move above $0.12, supported by rising open interest, could indicate improving momentum, while a failure to hold that level may lead to a return to the $0.11 mark.