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

Key takeaways

  • Our Algorand price predictions anticipate a high of $0.1624 by the end of 2024.
  • In 2025, it will range between $0.2331 and $0.2968, with an average price of $0.2401.
  • In 2030, it will range between $1.50 and $1.76, with an average price of $1.54.

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.

Overview

CryptocurrencyAlgorand
TickerALGO
Current price$0.1484
Market cap$1,213,789,780
Trading volume$28,032,494
Circulating supply8,182,207,778
All-time high$3.28 on Jun 21, 2019
All-time low$0.08761 on Sep 11, 2023
24-hour high$0.1484
24-hour low$0.1416

Algorand price prediction: Technical analysis

MetricValue
Volatility (30-day variation)12.28%
50-day SMA$0.1689
200-day SMA$0.1994
SentimentNeutral
Fear and Greed Index53 (Neutral)
Green days13/30 (43%)

ALGO price analysis: ALGO moves into consolidation

TL;DR

  • ALGO recovery is gradual, with little market volatility.
  • ALGO currently faces rejection at $0.15.

ALGO/USD 1-day chart: ALGO hovers in neutral territory

Algorand price prediction 2024-2030: Is a resurgence possible?
ALGO/USD chart. Image source: TradingView

Algorand’s Relative Strength Index (RSI) has risen over the last week and now hovers at 45.07 as it trends in neutral territory. Positive momentum also rose over the period. Despite the shift, the recovery was gradual, with little market volatility, as shown by the converging William Alligator trendlines. Algorand day traders are closely watching to see whether it will break out upwards.

ALGO/USD 4-hour chart: ALGO remains indecisive

Algorand price prediction 2024-2030: Is a resurgence possible?
ALGO/USD chart. Image source: TradingView

ALGO is indecisive as it registered short candles over the last week. The William Alligator is sleeping signalling little market volatility. The moves comes as it faces rejection at $0.15. ALGO could break out upwards noting that the MACD line has broken above the signal line.

ALGO technical indicators: Levels and acton

Daily simple moving average (SMA)

PeriodValue ($)Action
SMA 30.1406BUY
SMA 50.1389BUY
SMA 100.1385BUY
SMA 210.1472SELL
SMA 500.1689SELL
SMA 1000.1915SELL
SMA 2001.1994SELL

Daily exponential moving average (EMA)

PeriodValue ($)Action
EMA 30.1410BUY
EMA 50.1402BUY
EMA 100.1413BUY
EMA 210.1492SELL
EMA 500.1659SELL
EMA 1000.1803SELL
EMA 2000.1838SELL

Is ALGO a good investment?

Analysis by Intotheblock shows that 93% 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.

Why is ALGO up?

ALGO has registered growing positive momentum over the last seven days. This move comes as ALGO seeks the direction of the next breakout. The RSI also trends higher, hinting that ALGO will go up.

Will ALGO recover? 

ALGO is recovering over the short term; however, the move is gradual. The general trend remains bearish as it seeks support.

Will ALGO reach $0.15?

 ALGO’s immediate resistance level stands at $0.15. With the positive market momentum rising, a 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 form 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 coming years.

What can you expect from the ALGO price analysis next?

Per our technical indicators, ALGO’s sentiment is neutral, and the fear and greed index shows investors weighing whether to buy or sell. The charts also show that the market sentiment is neutral, so ALGO should remain range-bound.

Recent news/updates on Algorand

Tether is discontinuing usdt support and minting on the Algorand blockchain, but will remain redeemable for the next 12 months. The decision came as Tether shifted focus to networks based on their usage, maintainability, and community interest.

Read more: Tether ceases USDT issuance on Algorand and EOS

ALGO price prediction July 2024

The Algorand price forecast in July is a maximum price of $0.1624 and a minimum price of $0.1358. The average price for the month will be $0.1483.

MonthPotential low ($)Potential average ($)Potential high ($)
July0.13580.14830.1624

ALGO price prediction 2024

For the second half of 2024, ALGO’s price will range between $0.1358 and $0.1948. The average price for the period will be $0.1769.

YearPotential low ($)Potential average ($)Potential high ($)
20240.13580.17690.1948

ALGO price prediction 2025-2030

YearPotential low ($)Potential average ($)Potential high ($)
20250.23310.24010.2968
20260.33260.34220.4055
20270.48500.50210.5888
20280.71150.73660.8492
20291.041.071.25
20301.501.541.76

Algorand price prediction 2025

The ALGO price forecast for 2025 is a high of $0.2968. It will reach a minimum price of $0.2331 and average at $0.2401.

Algorand price prediction 2026

The year 2026 will experience more bullish momentum. Our ALGO price prediction estimates it will range between $0.3326 and $0.4055, with an average price of $0.3422.

Algorand price prediction 2027

Algorand’s price prediction climbs even higher into 2027. According to the prediction, ALGO’s price will range between $0.4850 and $0.5888, with an average price of $0.5021.

Algorand price prediction 2028

Our analysis indicates a further acceleration in ALGO’s price. It will trade between $0.7115 and $0.8492, with an average price of $0.7366.

Algorand price prediction 2029

According to the ALGO price prediction for 2029, the price of ALGO will range from $1.04 to $1.25, with an average price of $1.07.

Algorand price prediction 2030

The ALGO price prediction for 2030 indicates the price will range between $1.50 and $1.76. The average price of ALGO will be $1.54.

Algorand price prediction 2024-2030: Is a resurgence possible?
Algorand price history 2025-2030

ALGO market price prediction: Analysts ALGO price forecast

Platform202420252026
Digitalcoinprice$0.30$0.34$0.53
Changelly$0.20$0.31$0.46
Gate.io$0.15$0.15$0.16

Cryptopolitan’s ALGO price prediction

Our predictions show that ALGO will achieve a high of $0.1948 in the second half of 2024. In 2025, it will range between $0.2331 and $0.2968, with an average of $0.2401. In 2030, it will range between $1.50 and $1.76, with an average price of $1.54. Note the predictions are not investment advice. Seek independent professional consultation or do your research.

ALGO historic price sentiment

Algorand price prediction 2024-2030: Is a resurgence possible?
Algorand price history. Image source: 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 $1.5.
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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.

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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