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

Key takeaways:

  • Our Algorand price prediction indicates a high of $0.1930 by the end of 2024.
  • In 2025, it will range between $0.2043 and $0.2587, with an average price of $0.2401.
  • In 2030, it will range between $1.43 and $1.70, with an average price of $1.47.

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.

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.

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Overview

CryptocurrencyAlgorand
TickerALGO
Market cap$2.55B
Trading volume$263.06M
Circulating supply8.28B
All-time high$3.28 on Jun 21, 2023
All-time low$0.08761 on Sep 11, 2023
24-hour high$0.3081
24-hour low$0.2834

Algorand price prediction

MetricValue
Volatility (30-day variation)35.64%
50-day SMA$0.1530
200-day SMA$0.1543
SentimentBullish
Fear and Greed Index77 (Extreme Greed)
Green days17/30 (57%)

ALGO price analysis

As of November 30, ALGO’s price rose by 45.39% in the last 7 days and 144.25% in the last 30.

Algorand’s bullish signals

Algorand TVL and Stablecoin market cap. Image source: DefiLlama
Algorand TVL and Stablecoin market cap. Image source: DefiLlama

Algorand’s total value locked (TVL) has gradually dropped from March until November when it started rising, and now stands at $140.09 million. TVL is the amount of funds locked up by an ecosystem’s decentralized applications. A rise in TVL suggests that users are depositing their assets into the protocol as interest grows.

On the contrary, the protocol’s stablecoin market cap rose in March from a low of $109.91 million. Unconventionally, the market cap tanked on Oct 31, 2024, from $134.63 million to $47.80 million level. The statistics pointed to waning user interest in the protocol’s stablecoins, which provide stability in a highly volatile market.

Algorand open interest. Image source: Coinglass
Algorand open interest. Image source: Coinglass

Open interest and active positions in the derivative market have moved in tandem with the price over the last five months. When both rise, they signal that traders with long positions are entering the market. This often occurs in bullish markets, indicating new money entering the market and a potential bullish continuation.

ALGO/USD 1-day chart analysis

ALGO/USD 1-day chart. Image source: TradingView
ALGO/USD 1-day chart. Image source: TradingView

The daily ALGO chart highlights its movement from the third quarter of 2024 after it reached a high of $0.26. Notably, it shot upwards in the second week of November forming white soldier candle patterns, which saw the coin reach a high of $0.3210 a level last breached in March. 

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The William Alligator is feeding as volatility rises. The relative strength index is 74.96 in overbought territory, while the MACD histogram shows positive market momentum.

ALGO technical indicators

Daily simple moving average (SMA)

PeriodValue ($)Action
SMA 3 0.2300BUY
SMA 50.2516BUY
SMA 100.2425BUY
SMA 210.2008BUY
SMA 500.1530BUY
SMA 1000.1414BUY
SMA 2000.1543BUY

Daily exponential moving average (EMA)

PeriodValue ($)Action
EMA 30.1960BUY
EMA 50.1724BUY
EMA 100.1501BUY
EMA 210.1378BUY
EMA 50 0.1325BUY
EMA 1000.1361BUY
EMA 2000.1479BUY

What to expect from ALGO price analysis next?

Per our technical indicators, ALGO’s price trend is bullish, and the fear and greed index shows extreme greed among investors as it crossed into overbought territory. Data analysis, however, shows rising activity in decentralized finance applications but a drop in its stablecoin demand.

Why is ALGO up?

ALGO is trading at previous highs set in the first half of 2024, the recovery could be attributed to the crypto markets general bullish sentiment which saw its market ca rise above $3.2 trillion.

Will ALGO reach $0.15?

ALGO’s monthly resistance level stands at $0.15. With the negative market momentum rising, a correction breakout is highly probable.

Will ALGO reach $10?

Per our Cryptopolitan price prediction, it remains highly unlikely for ALGO to break above $10 in the period ending 2030.

Will ALGO reach $100?

At $100, Algorand market capitalization has to rise above $700 billion from the current $1.2 billion. In comparison, Ethereum’s market capitalization is at $400 billion. Per our price prediction, Algorancd is highly unlikely to reach $100.

Does ALGO have a good long-term future?

Like most mega-altcoins, Algorand is trading at its lowest level this year. A break below 30 RSI will be crucial to sending it to previous highs. Looking ahead, ALGO will register new all-time highs in the coming years.

Is ALGO a good investment?

Analysis by Intotheblock shows that 97% of holders are at a loss at the current price. The figure will likely drop lower in the short term. However, as our Cryptopolitan price prediction shows, this will change over the long term.

Recent news

Algorand has partnered with World Chess to revolutionize the chess experience for millions of players. This collaboration will enable a seamless and secure environment for chess enthusiasts.

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The partnership is aimed to increase the clarity and safety of chess ratings. 

ALGO price predictions November 2024

The Algorand price forecast for November is a maximum price of $0.1229 and a minimum price of $0.0985. The average price for the month will be $0.1083.

MonthPotential low ($)Potential average ($)Potential high ($)
November0.09850.10830.1229

Algorand price prediction 2024

For the second half of 2024, ALGO’s price will range between $0.0985 and $0.1930. The average price for the period will be $0.1280.

YearPotential low ($)Potential average ($)Potential high ($)
20240.09850.12800.1930

Algorand price prediction 2025 – 2030

YearPotential low ($)Potential average ($)Potential high ($)
20250.20430.20990.2439
20260.29970.30800.3588
20270.43220.44760.5281
20280.65170.66970.7802
20290.96801.001.13
20301.431.471.70

Algorand price prediction 2025

The ALGO price forecast for 2025 is a high of $0.2439. It will reach a minimum price of $0.2043 and average at $0.2099. 

Algorand price prediction 2026

The year 2026 will experience more bullish momentum. Our Algorand price prediction estimates it will range between $0.2997 and $0.3588, with an average price of $0.3080.

Algorand price prediction 2027

Algorand’s price prediction climbs even higher into 2027. According to the prediction, ALGO’s price will range between $0.4322 and $0.5281, with an average price of $0.4476.

Algorand price prediction 2028

Our analysis indicates a further acceleration in ALGO’s price. It will trade between $0.6517 and $0.7802, with an average price of $0.6696.

Algorand price prediction 2029

According to the ALGO price prediction for 2029, the price of ALGO will range from $0.9680 to $1.13, with an average price of $1.00.

ALGO price prediction 2030

The ALGO price prediction for 2030 indicates the price will range between $1.43 and $1.70. The average price of ALGO will be $1.47.

Algorand price prediction 2024 – 2030
Algorand price prediction 2024 – 2030

Algorand market price prediction: Analyst’s ALGO price forecast

Platform202420252026
Digitalcoinprice$0.23$0.26$0.40
Changelly$0.13$0.24$0.30
Gate.io$0.11$0.13$0.15

Cryptopolitan’s Algorand price prediction

Our predictions show that ALGO will achieve a high of $0.1930 in the last quarter of 2024. In 2025, it will range between $0.2043 and $0.2439, with an average of $0.2099. In 2030, it will range between $1.43 and $1.70, with an average price of $1.54. Note the predictions are not investment advice. Seek independent professional consultation or do your research.

Algorand historic price sentiment

Algorand Price History
Algorand price history: Coinstats

  • 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 since launch are down 90%.
  • Binance listed ALGO on 21 June 2019. According to Coinmarketcap data, it pumped after the listing to reach its all-time high (ATH) at $3.28.
  • ALGO later crashed; four months later, it was down 90% from ATH.
  • In July 2021, Coinbase listed ALGO. As a result, it gradually recovered and peaked at $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 growth.
  • So, in 2021, it rose from a low of $0.32 in January to $2.3 in October, a 200% gain.
  • Nothing prepared crypto enthusiasts for the 2023 crypto winter, which worsened with the FTX crash. The year closed with ALGO trading at $0.23.
  • The decline continued through 2023, registering an all-time low at $0.0876 in September.
  • Market recovery began in October. By the end of the year, it had risen above $0.2. It now trades at $0.13.
  • It then dropped below $0.12 as we crossed into November.

FAQs

IS ALGO A GOOD INVESTMENT?

The ALGO token is payment-ready; you can use it to pay for transaction fees and purchase on-chain NFTs on the Algorand blockchain. ALGO is also used to secure the platform and reward ecosystem governors. Our CP Price Prediction section will show how the coin will gain value in years to come.

WHAT IS THE UTILITY OF THE ALGO TOKEN?

ALGO is a governance token used to pay for transactions on the Algorand Foundation. It can also be used as a means of payment on outlets that accept crypto due to its low transaction fees and fast settlement.

WHERE CAN I BUY ALGO?

You can purchase on Binance, Coinbase, Bybit, OKX, Upbit, and Kraken exchanges.

CAN THE ALGO PRICE CRASH?

Algorand is volatile and, therefore, prone to a crash. The opposite is also plausible.

IS Algorand A SCAM OR LEGIT?

Algorand is a legit project maintained by the Algorand Foundation.

WHERE DO I SAFELY STORE ALGO?

You can safely store your ALGO tokens on Coinomi, Algorand Core, MyAlgo, Ledger, and Exodus wallets.

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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