Algorand Price Prediction for Today, August 21 – ALGO Technical Analysis

Be a part of Our Telegram channel to remain updated on breaking information protection

The Algorand value prediction reveals that ALGO could possibly be prepared for the uptrend because the trades close to $0.140 resistance at this time.

Algorand Prediction Statistics Information:

Algorand value now – $0.136
Algorand market cap – $1.18 billion
Algorand circulating provide – 8.22 billion
Algorand whole provide – 10 billion
Algorand Coinmarketcap rating – #58

Relating to crypto investments, being an early adopter can typically be key to maximizing returns. As an example, let’s contemplate Algorand (ALGO). Since its all-time low of $0.08761 on September 11, 2023, the worth has surged by a formidable 55.34%. Though it’s nonetheless considerably under its all-time excessive of $3.28 from June 21, 2019, this rebound from its lowest level highlights the potential for restoration and development inside the unstable crypto market. Being conscious of such value efficiency can assist you make knowledgeable selections about your investments.

ALGO/USD Market

Key Ranges:

Resistance ranges: $0.165, $0.170, $0.175

Help ranges: $0.105, $0.100, $0.095

ALGOUSD – Every day Chart

In response to the every day chart, ALGO/USD has been exhibiting a bullish falling wedge sample on the every day chart. Not too long ago, the worth has bounced considerably from its help stage and is now trying to interrupt by a crucial resistance at $0.138 as this breakout alerts potential upward motion.

Algorand Value Prediction: Algorand (ALGO) Might Achieve Extra Upsides

The Algorand value is presently hovering above the 9-day and 21-day transferring averages. Nonetheless, the every day chart reveals that the worth surpasses the resistance stage of $0.135 to the touch the every day excessive of $0.137, however a latest breakout suggests a bullish cross above the higher boundary of the channel because the 9-day transferring common strikes to cross above the 21-day transferring common, indicating a probable continuation of the upward development.

However, the technical setup for Algorand is exhibiting a bullish bias. Subsequently, if the worth continues to carry above the important thing resistance ranges, additional upward motion in the direction of the $0.140 resistance stage is predicted. Nonetheless, further resistance ranges may be discovered at $0.165, $0.170, and $0.175 respectively. On the opposite facet, if the Algorand value heads towards the decrease boundary of the channel, sliding under the earlier help at $0.127 might lead the coin to the crucial help ranges at $0.105, $0.100, and $0.095.

ALGO/BTC Trades Bullishly

In opposition to Bitcoin, the every day chart reveals that the Algorand value is trying to cross above the higher boundary of the channel. As quickly as the worth stables above this barrier, there’s a chance that further good points could possibly be obtained. Subsequently, the following resistance stage is near the 230 SAT stage. If the worth retains rising, it might even break the 260 SAT and above.

Algorand Price Prediction for Today, August 21 – ALGO Technical Analysis — ALGOBTC – Every day Chart

Nonetheless, if the bears regroup and slide under the transferring averages, 190 SAT help might play out earlier than rolling to the crucial help at 185 SAT and under. In the meantime, the 9-day MA is crossing above the 21-day MA, suggesting a bullish motion.

Furthermore, @cryptofrontio shared insights about $ALGO together with his followers on X (previously Twitter), suggesting that the worst is perhaps behind us. He talked about that he has closely invested within the token, together with his preliminary revenue goal set at $0.70, representing a possible 650% achieve. In an optimistic situation, he anticipates the worth might attain $5.60, which might be a 42x enhance.

$ALGO HOLDERS THE WORST MIGHT BE OVER!!!i personally have loaded the truck and my first take revenue is 70cents (650% up) and my greatest case situation is $5.60 (42X up) pic.twitter.com/rLyO2MKR93

— CRYPTO FRONT (@cryptofrontio) August 20, 2024

Algorand Options

Algorand (ALGO) may kick-start one other bullish run again above the $0.138 stage if the market value crosses and stays above the higher boundary of the channel. Consequently, any further optimistic break to the upside is required for the coin to press larger. In the meantime, the Play Doge token is a promising play-to-earn (P2E) venture that mixes the nostalgic Tamagotchi digital pet expertise with cryptocurrency. Regardless of the present bearish market, the venture has raised $6 million throughout its presale, indicating robust investor confidence.

This Crypto Meme Coin Can 100X in a Few Days. Purchase this Presale Gem NOW

Investing in Play Doge earlier than the presale ends on August 26 affords an opportunity to revenue from a promising play-to-earn venture that has already raised $6 million. With a strong roadmap, strategic tokenomics, and rising group help, the token is poised for vital development as soon as it launches on exchanges. Early buyers may benefit from potential value surges because the venture good points momentum.

Go to PlayDoge