Algorand (ALGO) 失去看漲勢頭，跌破 0.4 美元支撐位；底部在哪裡？

Algorand [ALGO] 是在過去的周期中表現良好的代幣之一，上個月自我復甦並持續看漲。

Algorand [ALGO] had a stellar performance in the previous bull cycle and revived itself last month with a strong bullish rally. It gained 480% in a month, but began to recede in early December.

Algorand [ALGO] 在上一個牛市週期中表現出色，並在上個月憑藉強勁的看漲反彈而復甦。一個月內上漲了480%，但12月初開始回落。

However, the altcoin’s volume indicators suggested that trouble may be brewing on the price front.

然而，山寨幣的成交量指標表明，價格方面可能正在醞釀麻煩。

Algorand’s bullish momentum fizzles out

Algorand 的看漲勢頭逐漸消失

ALGO faced a strong rejection at the local high of $0.613, beginning a retracement chain in the first week of December. At the time, Bitcoin [BTC] was still trading within its short-term range. In the last three days, BTC broke above the range and climbed past $100k once more. Yet, at the time of writing, ALGO was falling once again.

ALGO 在 0.613 美元的局部高點遭遇強烈拒絕，並在 12 月第一週開始了回檔鏈。當時，比特幣[BTC]仍在短期區間內交易。在過去的三天裡，BTC 突破了該區間，並再次突破 10 萬美元。然而，在撰寫本文時，ALGO 再次下跌。

The market structure on the 1-day chart for Algorand flipped bearish on 9 December. Since then, the Chaikin Money Flow (CMF) has trended southward to highlight a decreasing capital inflow. Its reading at +0.01 at press time denoted neutrality and was insufficient to regain a bullish structure.

Algorand 1 日圖表上的市場結構於 12 月 9 日轉為看跌。此後，柴金資金流向（CMF）呈現南移趨勢，凸顯資本流入減少。截至發稿時，其讀數為+0.01，顯示中性，不足以恢復看漲結構。

The Accumulation/Distribution (A/D) indicator also slipped on the charts. Together, the two volume indicators showed how Algorand bulls were losing strength rapidly over the last ten days. The Awesome Oscillator also depicted this loss of momentum.

累積/派發 (A/D) 指標也在圖表上下滑。這兩個成交量指標共同顯示了 Algorand 多頭在過去十天內如何迅速失去力量。動量震盪指標也描述了這種動量的損失。

Fibonacci retracement levels would serve as the next support levels to watch out for. The 50% level at $0.36 has been tested as support once, but it is likely that ALGO will revisit it once more. The levels at $0.3 and $0.2145 could be the targets for the next month or two. That is, unless demand for Algorand can be revived.

斐波那契回檔位將作為下一個值得關注的支撐位。 0.36 美元的 50% 水平已經被測試過一次作為支撐位，但 ALGO 很可能會再次重新審視它。 0.3 美元和 0.2145 美元的水平可能是未來一兩個月的目標。也就是說，除非對 Algorand 的需求能夠恢復。

Positive sentiment on its way to…

正向的情緒正在走向…

Data from Santiment showed that the weighted sentiment, which was very positive just two weeks ago, began to decline. At the same time, development activity also trickled down and stalled on the charts.

Santiment 的數據顯示，兩週前也非常正面的加權情緒開始下降。同時，開發活動也逐漸減少並在排行榜上停滯不前。

In fact, dev activity and contributors count have both been at zero since 10 December. This could be a result of the holiday season, although it did not occur in recent years and can be viewed as an anomaly.

事實上，自 12 月 10 日以來，開發者活動和貢獻者數量均為零。這可能是假期的結果，儘管近年來沒有發生這種情況，並且可以被視為異常現象。

Finally, the Open Interest has been trending lower slowly, as has the spot CVD. It has been flat over the last 24 hours, but it may be too early to determine whether the selling pressure has been arrested.

最後，未平倉合約一直呈現緩慢下降趨勢，現貨 CVD 也是如此。過去 24 小時內一直持平，但現在判斷拋售壓力是否已緩解可能還為時過早。

Overall, further losses seemed likely at the time of writing.

總體而言，在撰寫本文時，似乎可能會出現進一步的損失。