Algorand is Predicted to Reach $ 0.267712 By Feb 04, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, 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.

• Algorand is down -8.80% today against the US Dollar
• ALGO/BTC decreased by -4.81% today
• ALGO/ETH decreased by -3.59% today
• Algorand is currently trading 10.47% below our prediction on Feb 04, 2023
• Algorand gained 39.52% in the last month and is down -74.79% since 1 year ago

ALGO price is expected to rise by 11.68% in the next 5 days according to our Algorand price prediction

Algorand price today is trading at $ 0.239677 after losing -8.80% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -7.66% in the same time period. ALGO performed poorly against BTC today and recorded a -4.81% loss against the world’s largest cryptocurrency.

According to our Algorand price prediction, ALGO is expected to reach a price of $ 0.267712 by Feb 04, 2023. This would represent a 11.68% price increase for ALGO in the next 5 days.

ALGO Price Prediction Chart

Buy/Sell Algorand

What has been going on with Algorand in the last 30 days

Algorand has been displaying a positive trend recently, as the coin gained 39.52% in the last 30-days. The medium-term trend for Algorand has been bearish, with ALGO dropping by -32.46% in the last 3 months. The long-term picture for Algorand has been negative, as ALGO is currently displaying a -74.79% 1-year price change. On this day last year, ALGO was trading at $ 0.950724.

Algorand reached its all-time high price on Jun 21, 2019, when the price of ALGO peaked at $ 4.77. The current ALGO cycle high is $ 2.52, while the cycle low is at $ 0.101011. ALGO has been displaying high volatility recently – the 1-month volatility of the coin is at 13.02. Algorand recorded 25 green days in the last 30 days.

Algorand technical analysis for today - Jan 30, 2023

The sentiment in the Algorand markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.255980, $ 0.250155 and $ 0.246108, while $ 0.265853, $ 0.269900 and $ 0.275725 are the key resistance levels.

Bearish sentiment for Algorand

8 indicators are currently signaling a bullish prediction for Algorand, while 22 indicators are showing a bearish forecast. With 73% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Algorand.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 61 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Algorand moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Algorand is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Algorand is at 68.64, suggesting that ALGO is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Algorand over the last 50 days. Currently, Algorand is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ALGO closing price for the last 200 days. ALGO is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Algorand prediction

After considering the above factors, we can conclude that the current forecast for Algorand price prediction is Bearish. ALGO would have to increase by 11.68% to hit our $ 0.267712 target within the next five days. Moving forward, it will be important to monitor the ALGO market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Algorand price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, 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.