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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

CryptocurrencyAlgorand
TickerALGO
Current Price$0.189
Market Cap$1,542,424,459
Trading Volume$34,521,722
Circulating Supply8,175,358,542
All-time High$3.28 on Jun 21, 2019
All-time Low$0.08761 on Sep 11, 2023
24-hour High$0.1898
24-hour Low$0.08761

ALGO price prediction: Technical analysis

MetricValue
Volatility (30-day Variation)3.30%
50-day SMA$0.1865
200-day SMA $0.1984
SentimentNeutral
Fear & Greed Index75 (Greed)
Green Days11/30 (37%)

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 trends neutral

ALGO’s relative strength index (RSI) trends neutral at 50.73 with little market momentum. The 100% Fibonacci level holds strong as ALGO trades at its lowest this year—a substantial break above 78.60%. Fibonacci will send ALGO to the next price target at $0.2207.

Algorand price prediction 2024-2030: Is a resurgence possible?
ALGO/USD 1-day chart

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

ALGO is more volatile as it trades within the ranges. It has formed an engulfing candle pattern, signaling a break higher. The sentiment is supported by the positive market momentum, which has risen over the last 24 hours. The RSI, however, remains neutral.

Algorand price prediction 2024-2030: Is a resurgence possible?
ALGO/USD 4-hour chart

ALGO technical indicators: Levels and action

Daily simple moving average (SMA)

Period Value ($)Action
SMA 30.1865BUY
SMA 50.1881SELL
SMA 100.1892SELL
SMA 210.1852BUY
SMA 500.1865BUY
SMA 1000.2172SELL
SMA 2000.1984SELL

Daily exponential moving average (EMA)

Period Value ($)Action
EMA 30.1871BUY
EMA 50.1880SELL
EMA 100.1883SELL
EMA 210.1878SELL
EMA 500.1935SELL
EMA 1000.1988SELL
EMA 2000.1925SELL

 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 75 (Greed). Algorand recorded 11/30 (37%) green days with 3.30% 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 only 10% of holders are making money at the current price. The statistics will hold over the short term; however, this will change over the long term, as shown by our Cryptopolitan price prediction.

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.

MonthPotential Low ($)Potential Average ($)Potential High ($)
June0.170.180.20

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.

YearPotential Low ($)Potential Average ($)Potential High ($)
20240.150.240.27

ALGO price prediction 2025 – 2030

YearPotential Low ($)Potential Average ($)Potential High ($)
20250.340.350.40
20260.500.510.59
20270.680.700.85
20281.041.061.19
20291.491.531.78
20302.082.142.61

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.

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

ALGO market price prediction: Analysts’ ALGO price forecast

Firm20242025
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.
Algorand price prediction 2024-2030: Is a resurgence possible?
Image Source: Coinstats

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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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