Key Takeaways:
- The Algorand price closed the previous day’s trade at $0.2424 with a market capitalization of $1.72 billion and a circulating supply of 7.12 billion.
- ALGO price continues to extended the bearish trend, forming new support levels as the selling pressure mounts up.
- Meanwhile, the bullish crossover may also emerge soon but may fail to uplift the price beyond the bearish captivity.
Algorand Price Prediction Today
| Current Price | $0.2364 |
| ALGO Price Prediction for Today | $0.2367 |
| Volatility | 17.68% |
| 50-Day SMA | $0.3184 |
| 14 Day RSI | 37.20 |
| Sentiment | Bearish |
| Fear and Greed Index | 20 (Extreme Fear) |
| Green Days | 15/30 (50%) |
| 200-Day SMA | $0.3414 |
Algorand Technical Analysis for the Month
Source: Tradingview
- The price is trading within a huge bearish descending pennant ever since the token broke down after forming highs in the first few days of 2022.
- After the recent rejection from the upper trend line, fueled by FTX collapse, the price appears to have stuck within a bearish structure.
- As the volume has slashed drastically, the price may remain stagnant for an extended period, may be until the end of the month.
- However, the bearish cartel may continue to hold their dominance until the end of the yearly trade and reach the pinnacle of the bearish pennant.
- If a significant bullish volume prevails at that time, then the price may undergo a minor pullback and rebound firmly to secure levels close to $0.5.
Read more: Cardano Price Prediction
Will ALGO Price Reach $0.24 Today?
The volatility of the token as been slashed heavily in the past few days as the prices remain within the consolidated range between $0.236 to $0.248. Meanwhile the volume also has dropped notably which has compelled the price to remain captivated at the lower levels. Therefore, maintaining the same trend, the ALGO price may continue trading within the same range for some more time ahead.
Besides, the MACD in the short term, is flashing somewhat bullish signals with a crossover to occur anytime from now. Moreover, the RSI is also incremental and hence a decent upswing may be expected in the next few hours. Therefore, based on the above observations, the Algorand price predictions for today are around $0.238 to $0.24.
Will ALGO Price Reach $0.25 by the End of the Month?
The Algorand price has been plateaued in the past few days due to dropped volume and volatility. Hence, until the trend witnesses a minor change, the price is expected to continue trading within the same levels. On the darker side, a drop may compel the price to test the lower support at around $0.22, while the pivotal support at $0.2 may be respected.
While the trade is approaching the month-end, the volatility is expected to rise slightly that may impact the price trend regardless of the direction. However, the selling pressure appears to have dropped a little which may enable the price to recover slightly. Hence, based on the technicals and the above observations, Algorand price prediction for November could be around $0.257.
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Algorand Price Prediction: 2025-2030
Considering the present market situation and the ALGO price actions, the token may close the monthly trade and the yearly trade on a bearish note. Furthermore, after experiencing an enhance price squeeze, the price may further explode, inviting the bulls to raise the prices higher and reclaim the lost levels at the earliest.
The long-term predictions are usually bullish in nature and hence a notable upswing may be fast approaching. The ALGO price may eventually achieve $1 initially and further form new highs very soon. Therefore, the Algorand price prediction for 2025 could be around $3 to $4.2 and could gain a 2-digit figure until 2030.
| Year | ALGO Price Prediction |
| 2022 | $0.44 to $0.53 |
| 2023 | $0.98 to $1.23 |
| 2024 | $2.1 to $3.5 |
| 2025 | $4.4 to $5.8 |
Algorand News Today
- FIFA recently launched digital collectibles called FIFAPlusConnet which is powered by Algorand blockchain
🚀 After over 300 applications, Algorand Accelerate officially launches today. Congrats to our 2022 cohort: @2bloxaway @cashdillo @SoMoveOfficial @Origino_io @knoxcustody @PerpetualWeb3 @Althenalabs @headline_crypto @niftgen & Rewind Music Labs. @AlgoFoundation #algofam pic.twitter.com/ZL8QQGW1wS
— Algorand Accelerate (@algorandeurope) November 21, 2022
- Algorand recently launched an accelerator program with over 300 applicants.
🚀 After over 300 applications, Algorand Accelerate officially launches today. Congrats to our 2022 cohort: @2bloxaway @cashdillo @SoMoveOfficial @Origino_io @knoxcustody @PerpetualWeb3 @Althenalabs @headline_crypto @niftgen & Rewind Music Labs. @AlgoFoundation #algofam pic.twitter.com/ZL8QQGW1wS
— Algorand Accelerate (@algorandeurope) November 21, 2022
