Algorand Hits $0.089 as Whale Activity and Long Positions Rise

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ALGO
$0.07951.14%
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Algorand (ALGO) hit $0.08908 on August 4, 2026, as whale activity trading increased with large holders controlling 54% of the supply. Long positions made up 57% of derivatives exposure, showing strong bullish momentum. Traders are watching key support and resistance levels to gauge the next move.

Algorand [ALGO] attracted renewed whale attention as its price approached a potential breakout on the 3rd of August.

Large holders increased their exposure across Spot and derivatives markets. This activity accelerated as ALGO reclaimed its 20-day Exponential Moving Average (EMA).

By the 4th of August, ALGO traded at $0.08908, according to CoinMarketCap. This placed it marginally above the earlier $0.089 target.

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Why are ALGO whales buying?

AMBCrypto’s analysis of the altcoin’s derivatives data found that whales continued accumulating rather than reducing their exposure.

Consequently, whales held 54% of ALGO’s supply on the 3rd of August. This strengthened their influence over its near-term price direction.

ALGO supply contolled by whales
Source: Santiment

Their bullish positioning extended beyond the Spot market.

Long positions represented 57% of tracked derivatives exposure. This suggested that most leveraged traders expected further price gains.

Whale accumulation alongside a long bias typically reflects growing market confidence. However, such positioning could also increase liquidation risks if ALGO reverses.

ALGO open interest
Source: Coinalyze

Can ALGO hold above $0.089?

ALGO’s daily chart showed momentum shifting toward buyers on the 3rd of August.

The token had consolidated inside a bullish pennant before reclaiming its 20-day EMA. That move suggested buyers were regaining short-term control.

At the time, pennant resistance remained the next hurdle. A breakout could carry the altcoin toward $0.089, where earlier rallies faced selling pressure.

ALGO price analysis
Source: TradingView

That target was reached by the 4th of August, when ALGO traded at $0.08908.

Whale ownership remained elevated, while long positions dominated tracked derivatives exposure. Algorand had also moved above its key moving average.

However, holding above $0.089 may determine whether the breakout develops into a broader rally. A rejection could return the token toward its former pennant range.

Final Summary

  • Large holders controlled 54% of ALGO’s supply, strengthening their influence over its price direction.
  • Long positions represented 57% of tracked derivatives exposure, reflecting expectations of further upside.
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