Algorand price prediction 2024-2030: Is a resurgence possible?

Key Takeaways

• Our Algorand price predictions anticipate a high of $0.27 by the end of 2024.
• In 2025, it will range between $0.34 and $0.40, with an average price of $0.45.
• In 2030, it will range between $2.08 and $2.61, with an average price of $2.14.

Algorand’s capabilities make it an interesting prospect for investors and developers interested in smart contracts and blockchain interoperability. A 2019 video featured Gary Gensler, Securities and Exchange Commission chair, referring to Algorand as a great technology and using it as an example when discussing the decentralization of cryptocurrencies.

Also Read: Ripple and XRPL Labs Join Hedera and Algorand Ecosystems As Founding Members of the DeRec Alliance

Will ALGO go up? Can it reach $10? Where will ALGO be in 5 years? We explore these and more in our Cryptopolitan price prediction.

Overview

Cryptocurrency	Algorand
Ticker	ALGO
Current Price	$0.1484
Market Cap	$1,216,046,677
Trading Volume	$50,967,700
Circulating Supply	$8,181,500,510
All-time High	$3.28 on Jun 21, 2019
All-time Low	$0.08761 on Sep 11, 2023
24-hour High	$0.1597
24-hour Low	$0.1483

ALGO price prediction: Technical analysis

Metric	Value
Volatility (30-day Variation)	5.23%
50-day SMA	$0.1837
200-day SMA	$0.1976
Sentiment	Bearish
Fear & Greed Index	74 (Greed)
Green Days	12/30 (40%)

ALGO price analysis: ALGO is consolidating

Key Takeaways

• ALGO’s RSI is in neutral territory.
• ALGO is more volatile in the shorter time frame.

ALGO/USD 1-day Chart: ALGO edges closer to oversold territory

ALGO is in a bear trend after shedding all its gains in the first quarter of 2024. The coin has lost over half its value from the year’s high. Its negative momentum has risen over the last two days, raising its chances of dropping to oversold territory. Its RSI is at 31.25. A reversal would send it to resistance at $0.184.

ALGO/USD 4-hour Chart: ALGO registering high volatility

The 4-hour chart highlights its bear run this month. The largest drop happened on June 24, falling from a high of $0.193 to a low of $0.16. Negative momentum rose over the last four hours as it formed an engulfing red candle. The pattern is a telltale sign of an incoming price drop. RSI is at 30.05, a little shy of crossing to oversold territory.

ALGO technical indicators: Levels and action

Daily simple moving average (SMA)

Period	Value ($)	Action
SMA 3	0.1713	SELL
SMA 5	0.1703	SELL
SMA 10	0.1741	SELL
SMA 21	0.1810	SELL
SMA 50	0.1837	SELL
SMA 100	0.2120	SELL
SMA 200	0.1976	SELL

Daily exponential moving average (EMA)

Period	Value ($)	Action
EMA 3	0.1797	SELL
EMA 5	0.1830	SELL
EMA 10	0.1856	SELL
EMA 21	0.1865	SELL
EMA 50	0.1984	SELL
EMA 100	0.1984	SELL
EMA 200	0.1923	SELL

What can you expect from the ALGO price analysis next?

Per our technical indicators, the current sentiment is Neutral, while the Fear & Greed Index shows 74 (Greed). Algorand recorded 12/30 (40%) green days with 5.23% price volatility over the last 30 days. The charts also show that the market sentiment is neutral, so ALGO should remain range-bound.

Is ALGO a good investment?

Analysis by Intotheblock shows that 94% of holders are at a loss at the current price. The figure will likely drop lower in the short term. However, as shown by our Cryptopolitan price prediction, this will change over the long term.

Recent news/ opinions

Algorand released an ad campaign aimed directly at Ethereum and Solana. In the ad context, customers try to pay with different cryptocurrencies in a supermarket environment.

Bitcoin was slow, Ethereum had high fees, and Solana transactions failed repeatedly. ALGO processed the transaction quickly and without any hitches.

ALGO price prediction June 2024

The Algorand price forecast in June is a maximum price of $0.20 and a minimum price of $0.17. The average price for the month will be $0.18.

Month	Potential Low ($)	Potential Average ($)	Potential High ($)
June	0.17	0.18	0.20

ALGO price prediction 2024

For the second half of 2024, ALGO’s price will range between $0.15 and $0.27. The average price for the period will be $0.24.

Year	Potential Low ($)	Potential Average ($)	Potential High ($)
2024	0.15	0.24	0.27

ALGO price prediction 2025 – 2030

Year	Potential Low ($)	Potential Average ($)	Potential High ($)
2025	0.34	0.35	0.40
2026	0.50	0.51	0.59
2027	0.68	0.70	0.85
2028	1.04	1.06	1.19
2029	1.49	1.53	1.78
2030	2.08	2.14	2.61

ALGO price prediction 2025

The ALGO price forecast for 2025 is a high of $0.40. It will reach a minimum price of $0.34 and average at $0.40.

ALGO price prediction 2026

The year 2026 will experience more bullish momentum. Our Algorand price prediction estimates it will range between $0.50 and $0.59, with an average trading price of $0.51.

ALGO price prediction 2027

Algorand’s price prediction climbs even higher into 2027. According to the prediction, ALGO’s price will range between $0.68 and $0.85, with an average price of $0.70.

Also Read: Algorand CEO’s X account suffers breach amid its community backlash

ALGO price prediction 2028

Our analysis indicates a further acceleration in ALGO’s price. It will trade between $1.04 and $.19 and average $1.06.

ALGO price prediction 2029

According to the ALGO price prediction for 2029, the price of ALGO will range between $1.49 and $1.78, with an average of $1.58.

ALGO price prediction 2030

The ALGO price prediction for 2030 indicates the price will range between $2.08 and $2.61. The average price of ALGO will be $2.14.

ALGO market price prediction: Analysts’ ALGO price forecast

Firm	2024	2025
DigitalCoinPrice	$0.39	$0.43
Gate.io	$0.19	$0.22
Changelly	$0.21	$0.31

Cryptopolitan’s ALGO price prediction

Our predictions show that ALGO will achieve a high of $0.27 in the second half of 2024. In 2025, it will range between $0.50 and $0.59, with an average of $0.51. In 2030, it will range between $2.08 and $2.61, with an average of $2.14. Note the predictions are not investment advice. Seek independent professional consultation or do your research.

ALGO historic price sentiment

• Algorand held its token sale in June 2019 at $2.4 each.
• Union Square Ventures, Lemniscap, and NGC Ventures, among others, held earlier funding rounds. The public sale raised $60.40 million, while funding rounds raised $66 million. 
• Token sale participants who held their tokens are down 90%.
• Binance listed ALGO on 21 June 2019. According to Coinmarketcap data, it pumped up after the listing to reach an all-time high of $3.28.
• ALGO crashed four months later and lost over 90% from ATH.
• Coinbase listed ALGO in July 2021. The coin gradually recovered; the highest recorded for the year was $0.637 in August.
• In retrospect, 2021 was the golden year for the crypto market. The emergence of NFTs, DeFi growth, and institutional interest drove the growth.
• ALGO rose from a low of $0.32 in January to $2.3 in October, a 200% gain.
• Nothing prepared the coin for the 2022 crypto winter, and the FTX crash worsened the situation. The year closed with ALGO trading at $0.23.
• The decline continued through 2023, registering its all-time low at $0.0876 in September.
• Market recovery began in October. By the close of the year, it had risen above $0.2. 
• It quickly rose to $0.3 in 2024 but corrected later to $0.2 level.