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

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The Algorand worth prediction reveals that ALGO might be prepared for the uptrend because the trades close to $0.140 resistance in the present day.

Algorand Prediction Statistics Knowledge:

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

In terms of crypto investments, being an early adopter can usually be key to maximizing returns. For example, let’s think about Algorand (ALGO). Since its all-time low of $0.08761 on September 11, 2023, the worth has surged by a powerful 55.34%. Though it’s nonetheless considerably beneath 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 worth efficiency will help you make knowledgeable choices about your investments.

ALGO/USD Market

Key Ranges:

Resistance ranges: $0.165, $0.170, $0.175

Assist ranges: $0.105, $0.100, $0.095

ALGOUSD – Every day Chart

In keeping with 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 assist stage and is now trying to interrupt by way of a crucial resistance at $0.138 as this breakout indicators potential upward motion.

Algorand Worth Prediction: Algorand (ALGO) Might Acquire Extra Upsides

The Algorand worth is at present hovering above the 9-day and 21-day transferring averages. Nevertheless, 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.

Nonetheless, the technical setup for Algorand is exhibiting a bullish bias. Due to this fact, if the worth continues to carry above the important thing resistance ranges, additional upward motion in direction of the $0.140 resistance stage is predicted. Nevertheless, further resistance ranges might also be discovered at $0.165, $0.170, and $0.175 respectively. On the opposite aspect, if the Algorand worth heads towards the decrease boundary of the channel, sliding beneath the earlier assist at $0.127 might lead the coin to the crucial assist 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 worth 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 positive factors might be obtained. Due to this fact, the subsequent 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 beneath the transferring averages, 190 SAT assist might play out earlier than rolling to the crucial assist at 185 SAT and beneath. In the meantime, the 9-day MA is crossing above the 21-day MA, suggesting a bullish motion.

Furthermore, @cryptofrontio shared insights about $ALGO along 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, along with his preliminary revenue goal set at $0.70, representing a possible 650% achieve. In an optimistic state of affairs, 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 state of affairs is $5.60 (42X up) pic.twitter.com/rLyO2MKR93

— CRYPTO FRONT (@cryptofrontio) August 20, 2024

Algorand Alternate options

Algorand (ALGO) would possibly kick-start one other bullish run again above the $0.138 stage if the market worth crosses and stays above the higher boundary of the channel. Consequently, any further constructive break to the upside is required for the coin to press greater. In the meantime, the Play Doge token is a promising play-to-earn (P2E) mission that mixes the nostalgic Tamagotchi digital pet expertise with cryptocurrency. Regardless of the present bearish market, the mission 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 mission that has already raised $6 million. With a stable roadmap, strategic tokenomics, and rising neighborhood assist, the token is poised for vital development as soon as it launches on exchanges. Early buyers may benefit from potential worth surges because the mission positive factors momentum.

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