Algorand (ALGO) Price Prediction 2024, 2025–2030 | CoinCodex (2024)

According to our current Algorand price prediction, the price of Algorand is predicted to rise by 8.19% and reach $ 0.142242 by October 14, 2024. Per our technical indicators, the current sentiment is Neutral while the Fear & Greed Index is showing 50 (Neutral). Algorand recorded 17/30 (57%) green days with 6.15% price volatility over the last 30 days. Based on the Algorand forecast, it's now a good time to buy Algorand.

Disclaimer: This is not investment advice. The information provided is for general information purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsem*nt, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Based on the historical price movements of Algorand and the BTC halving cycles, the yearly low Algorand price prediction for 2025 is estimated at $ 0.126012. Meanwhile, the price of Algorand is predicted to reach as high as $ 0.248762 next year. Using the same basis, here is the Algorand price prediction for each year up until 2030.

Algorand price prediction 2025

The Algorand price prediction for 2025 is currently between $ 0.126012 on the lower end and $ 0.248762 on the high end. Compared to today’s price, Algorand could gain 90.52% by 2025 if ALGO reaches the upper price target.

Algorand price prediction 2030

The Algorand price prediction for 2030 is currently between $ 0.059936 on the lower end and $ 0.375448 on the high end. Compared to today’s price, Algorand could gain 187.55% by 2030 if it reaches the upper price target.

Algorand's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strenght Index - RSI (14)

Based on our technical indicators, Algorand's 200-day SMA will drop in the next month and will hit $ 0.154311 by Oct 14, 2024. Algorand's short-term 50-Day SMA is estimated to hit $ 0.131363 by Oct 14, 2024.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 57.19, which indicates that the ALGO market is in a neutral position.

Popular ALGO Moving Averages and Oscillators for Sat, Sep 14, 2024

Moving averages (MA) are a popular indicator in all financial markets, designed to smooth price action over a certain amount of time. They are a lagging indicator which means they are influenced by historical price activity. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA).

Algorand Oscillators

An oscillator is a technical analysis tool that constructs high and low bands between two extreme values, and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions.

Algorand Key Price Levels

Based on today's classical pivot point (P1) with the value of $ 0.130825, Algorand has support levels of $ 0.128605, $ 0.124466, and the strongest at $ 0.122246. Similarly, Algorand resistance levels are at $ 0.134964, $ 0.137184, and $ 0.141323.

Algorand Correlation

Over the past 7 days, Algorand price was most positively correlated with the price of Polkadot (DOT), The Graph (GRT), VeChain (VET), Hedera Hashgraph (HBAR) and Sei (SEI) and most negatively correlated with the price of Helium (HNT), StarkNet (STRK), TRON (TRX), Monero (XMR) and Arweave (AR).

Algorand price is positively correlated with the top 10 coins by market cap with a price of 0.771, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.773.

Currencies that are positively correlated with Algorand indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Algorand, a move in one direction for Algorand would translate into a move in the opposite direction for the negatively correlated coin.

To get a better idea of what could happen to the Algorand price in the future, it’s helpful to also explore Algorand’s price history. In the last month, the ALGO/USD pair is down .

Algorand Price Analysis

How to read and predict Algorand price movements?

Algorand traders use a variety of tools to try and determine the direction in which the ALGO market is likely to head next. These tools can roughly be divided into indicators and chart patterns. When trying to predict the Algorand price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall.

Algorand Price Prediction Indicators

Moving averages are among the most popular Algorand price prediction tools. As the name suggests, a moving average provides the average closing price for ALGO over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for ALGO is a sum of ALGO’s closing prices over the last 12 days which is then divided by 12.

In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels. If the ALGO price moves above any of these averages, it is generally seen as a bullish sign for Algorand. Conversely, a drop below an important moving average is usually a sign of weakness in the ALGO market.

Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the ALGO price.

How to read Algorand charts and predict price movements?

Most traders use candlestick charts, as they provide more information than a simple line chart. Traders can view candlesticks that represent the price action of Algorand with different granularity – for example, you could choose a 5-minute candlestick chart for extremely short-term price action or choose a weekly candlestick chart to identify long-terms trends. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Algorand’s price action in 1-hour chunks. Each candlestick will display ALGO’s opening price, closing price, as well as the highest and lowest prices that Algorand reached within the 1-hour period.

It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.

What affects the price of Algorand?

Just like with any other asset, the price action of Algorand is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates. Regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of ALGO. The market capitalization of Algorand can change significantly in a short period of time.

When trying to make a Algorand forecast, many traders also try to monitor the activity of ALGO “whales”, which are entities and individuals that control large amounts of ALGO. Since the Algorand market is relatively small compared to traditional markets, “whales” can single-handedly have a big influence on Algorand’s price movements.

Bullish and bearish price prediction patterns

Some traders try to identify candlestick patterns when making cryptocurrency price predictions to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish.