Loading...

Algorand Price Prediction 2024-2030: Is resurgence possible?

Key Takeaways

  • Our ARB predictions anticipate a high of $0.2841 by the end of 2024.
  • In 2025, it will range between $0.3988 and $0.4464, with an average price of $0.4121.
  • In 2030, it will range between $2.38 and $2.86, with an average price of $2.47.

Algorand Technology claims that the Algorand blockchain is not subject to the blockchain trilemma, a technological breakthrough they achieved at its launch in 2019.

Algorand’s technical innovations and applications made it an exciting prospect for investors looking for coins that cover smart contracts and interoperability. During his lecturing days, the blockchain was also a favorite for Gary Gensler, the SEC chairman. That, however, did not prevent the SEC from arguing that ALGO was a security.

ALGO’s performance, however, has not been enticing. According to an analysis from IntoTheBlock, 89% of its holders are in losses at current prices. The coin has also been down 94% from its initial listing price in 2019 and 24% over the last 30 days.

“Will ALGO ever go up? Can Algo reach the $10 mark? Where will ALGO be in 5 years?” These are the questions asked by traders and investors. Let’s answer them using our Algorand price prediction.

Overview

CryptocurrencyAlgorand 
AbbreviationALGO
Current Price$0.1838
Market Cap$1,499,496,936
Trading Volume$56,704,226
Circulating Supply8,157,236,416
All-time High$3.28 on Jun 21, 2019
All-time Low$0.08761 in Sop 11, 2023
24-hour High$0.1841
24-hour Low$0.1707

Algorand Price Prediction: Technical Analysis

MetricValue
Volatility (30-day Variation)5.79%
50-day SMA$0.2045
100-day SMA$0.1884
SentimentBearish
Fear & Greed IndexFear & Greed Index
Green Days14/ 30 (47%)

Algorand Price Analysis: ALGO is Consolidating this Month

TL: DR

  • ALGO has lost almost half its value from the ycan your’s high.
  • It the is consolidating in current areas.

ALGO/USD 1-day Chart: ALGO faces immediate resistance at $0.1935

ALGO is rangebound, consolidating after it shed almost half its value from the year’s high. There is little market momentum, and the relative strength index is neutral. The immediate resistance level is at $0.1935.

ALGO/USD 1-day Chart

ALGO/USD 4-hour Chart: April Correction overshadows ALGO performance

Like the daily chart, ALGO is consolidating and overshadowed by the April market correction. It has registered positive momentum over the last two days as it attempts to break above resistance. The direction of the anticipated breakout is not evident.

ALGO/ USD 4-hour Chart

Algorand Technical Indicators: Levels and Action

Daily Simple Moving Average

Period Value ($)Action
SMA 30.1856SELL
SMA 50.1790BUY
SMA 100.1831SELL
SMA 210.1844SELL
SMA 500.2045SELL
SMA 1000.2167SELL
SMA 2000.1884SELL

Daily Exponential Moving Average

PeriodValue ($)Action
EMA 30.1885SELL
EMA 50.1896SELL
EMA 100.1901SELL
EMA 210.1939SELL
EMA 500.2065SELL
EMA 1000.2075SELL
EMA 2000.1946SELL

What to expect from ALGO price analysis next?

The technical indicators show a bearish sentiment, while the Fear & Greed Index shows 74 (Greed). Algorand recorded 14/30 green days with 5.79% price volatility over the last 30 days. Based on the Algorand forecast, it’s now a bad time to buy Algorand. The Algorand charts show it is rangebound, with support and resistance levels at $0.1593 and $0.1935, respectively. 

Is ALGO a Good Investment?

Algorand has a large developer base and a growing community. ALGO token has risen 12% over the last 30 days. Short-term protections are bearish, but the Cryptopolitan Price Predictions paint a different narrative.

Recent News/ Update

  • Algorand is adopting Python as its canonical programming language. Python has a user base of over 10 million developers but is often overlooked by platforms. Algorand Foundation Chief Technology Officer John Woods terms this change as a ‘seismic change.’
  • Alogrand is calling out creators for a 50,000 ALGO price pool.

Algorand Price Prediction May 2024

Algorand is trading on general market sentiment arising from the Bitcoin post-halving event. It could recover from current levels by the end of May to trade between $0.1721 and $0.2410, and an average price at $0.2040.

Algorand Price Prediction Potential Low ($)Average Price ($)Potential High ($)
May 20240.17210.20400.2410

Algorand Price Prediction 2024

As the second half of 2024 unfolds, ALGO’s trajectory diverges from its expected breakout rally post-halving. This movement is visible as it defends support at 17 cents. Presently, ALGO is bearish, as evidenced by the price registering lower highs. However, current predictions hint at a market reversal in June.

YearPotential Low ($)Average Price ($)Potential High ($)
20240.15270.26500.2841

Algorand Price Predictions 2025 – 2030

YearPotential Low ($)Average Price ($)Potential High ($)
20250.39880.41210.4464
20260.56090.58150.6969
20270.80770.83670.9699
20281.141.181.40
20291.671.721.92
20302.382.472.86

Algorand Price Prediction 2025

Algorand Inc. community is quickly driving more utility into the Algorand ecosystem. The platform also provides permissioned blockchain services to businesses where privacy and centralization could be a priority.

Algorand price forecast for 2025 is a high of $0.4464. However, in case of a market correction from the post-Bitcoin halving, the ALGO price might rest at $0.3988, making an average of $0.4121.

Algorand Price Prediction 2026

The year 2026 will experience more bullish momentum. As per the Algorand ALGO price forecast, it will range between $0.5609 and $0.6969, with an average trading price of $0.5815.

The growth might result from expanding the Algorand community as it draws more users. 

Algorand Price Prediction 2027

Moving into 2027, Algorand’s price forecast will climb even higher. As per ALGO Price Prediction, it will range between $0.8077 and $0.9699, an average of $0.8367.

New partnerships and developments with Algorand Technologies could facilitate this growth, enhancing the utility and demand for ALGO.

Algorand Price Prediction 2028

By 2028, the analysis suggests a further acceleration in ALGO’s growth. As per the ALGO Price Prediction, the price can reach between a minimum price of $1.14 and a maximum price of $1.40, an average of $1.18.

Technological developments in the Algorand could propel growth during this period. By this period, we anticipate lower transaction costs and faster settlements on the blockchain, facilitating the ease of use of ALGO.

Algorand Price Prediction 2029

As per Algorand’s Price Prediction 2029, ALGO’s price could rise and fall between $1.67 and $1.92, with a year-round average of $1.72.

Algorand Foundation’s ongoing efforts to secure more global partnerships and achieve wider adoption of its token might play a pivotal role in this anticipated price rise.

Algorand Price Prediction 2030

Lastly, as per the Algorand forecast for 2030, ALGO’s price is forecasted to range between $2.38 and $2.86, making an average of $2.47.

This long-term optimistic view hinges on Algorand’s increasing global recognition and adoption. As more businesses and organizations incorporate the Algorand blockchain, the demand could potentially surge, driving its value higher.

Algorand Market Price Prediction: Analysts’ ALGO Price Forecast

Firm Name20242025
DigitalCoinPrice$0.38$0.42
CryptoPredictions$0.3478$0.3891
Gov.Capital$0.0835$0.12355

Cryptopolitan’s Algorand ALGO Price Prediction

ALGO is forming a bullish pattern after dropping from the $0.3 mark earlier this mark. Will ALGO recover? According to our predictions, ALGO will rise and trade at an average of $0.2650 in the second half of 2024. In 2025, it will range between $0.3944 and $0.4464, with an average of $0.4121.

The crypto market, however, remains highly volatile. Negative market sentiment and FOMO can derail the predictions.

Algorand Historic Price Sentiment

  • Algorand held its token sale in June 2019 at $2.4 each. 
  • Earlier funding rounds were held by Union Square Ventures, Lemniscap, and NGC Ventures, among others. The public sale raised $60.40 million while funding rounds raised $66.00 million. Token sale participants who held their tokens to date are down 90%.
  • Binance listed ALGO on 21 June 2019. According to data from Coinmarketcap, ALGO pumped on listing to reach its all-time high (ATH) of $3.28.
  • ALGO crashed four months later, losing over 90% from ATH.
  • Coinbase listed ALGO in July 2021 as cheap blockchains continued to gain relevance within the crypto community. The coin gradually recovered; the highest price recorded for the year was $0.637 in August.
  • In retrospect, 2021 was the golden year for the crypto market. Several factors contributed to the year’s bullish cycle; these include the emergence of NFTs, the growth of DeFi, and institutional interest.
  • Some coins, like Gala, pumped by as much as 10,821%. AXS pumped 10,598%. ALGO rose from a low of $0.32 in January to $2.3 in October—a 700% gain.
  • Nothing prepared the coin for the 2022 crypto winter. The FTX exchange crashed, exposing a $8 – $10 billion hole in their accounts. The crash worsened an already bad situation. The year closed with ALGO trading at $0.23.
  • The decline continued through 2023, registering its all-time low price at $0.0876 in September. 
  • Luckily, market recovery started in October, preventing any further bloodshed. Crypto investors were warming up to the listing of spot Bitcoin ETFs and the Bitcoin halving event approaching in 2024. By the close of the year, ALGO had risen above $0.2.
ALGO/USD Price Chart. Image Source https://coinstats.app/coins/algorand/

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.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

sui
Cryptopolitan
Subscribe to CryptoPolitan