We present algebraic semantics for Continuous Propositional Logic, CPL, introduced by Itai Ben Yaacov, viewed as Łukasiewicz propositional logic with a reversed truth-falsity orientation and enriched by a unary halving connective. We introduce continuous algebras as MV-algebras together with an unary operator $κ$ analogous to the halving operator introduced in CPL and analyze their core structural properties, including ideals, quotient constructions, and subdirect representations. We further establish a correspondence between continuous algebras and the class of 2-divisible $\ell u$-groups, extending Mundici's representation theory to the continuous setting. This correspondence leads to a purely algebraic proof of the weak completeness theorem for CPL.