Microalgo Inc. (NASDAQ: MLGO) under pressure, with shares drop to $ 12.22 in Monday session. The short -term look turned into calm after a slow bleeding from the resistance level of $ 17.59 earlier this month, as prices are now dangerous near the support zone of $ 10.77.
Momentum indicators paint a bleak picture. Night strength indicators with RSI scrape the sales lands in 21.96, while MACD continues to drift into negative lands, which enhances the hibudian tone. Despite the cross-sized nails, buyers have struggled to defend the main levels, and failed attempts to restore $ 15-17 indicating that confidence fades.
The last time MLGO tested the $ 10, ignited a sharp reflection, sent the stock over $ 23. But this time, the setting looks weaker. Unless a sudden catalyst appears, the risk of collapse less than $ 10.77 grows – an event that can lead to a new round of surrender.
However, merchants look at this as a possible area. If the bulls can restore $ 13.50 on size, short -term relief may lead to a test of $ 17.59. Otherwise, the path below looks open and fast.
With the passage of an hour, the next step for Microalgo may be crucial. Eyes are locked on the mark of $ 10.
