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

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The Algorand worth prediction exhibits that ALGO could possibly be prepared for the uptrend because the trades close to $0.140 resistance right this moment.

Algorand Prediction Statistics Information:

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

On the subject of crypto investments, being an early adopter can typically 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 under its all-time excessive of $3.28 from June 21, 2019, this rebound from its lowest level highlights the potential for restoration and progress throughout the unstable crypto market. Being conscious of such worth 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 – Each day Chart

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

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

The Algorand worth is at present hovering above the 9-day and 21-day transferring averages. Nevertheless, the each day chart reveals that the worth surpasses the resistance stage of $0.135 to the touch the each 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 possible continuation of the upward development.

Nonetheless, the technical setup for Algorand is displaying a bullish bias. Subsequently, 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, extra resistance ranges can also be discovered at $0.165, $0.170, and $0.175 respectively. On the opposite facet, if the Algorand worth heads towards the decrease boundary of the channel, sliding under the earlier help at $0.127 might lead the coin to the essential help ranges at $0.105, $0.100, and $0.095.

ALGO/BTC Trades Bullishly

In opposition to Bitcoin, the each day chart exhibits 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 extra positive factors 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 – Each day Chart

Nonetheless, if the bears regroup and slide under the transferring averages, 190 SAT help might play out earlier than rolling to the essential 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 may be 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% acquire. 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 finest 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 worth crosses and stays above the higher boundary of the channel. Consequently, any extra 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) 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 sturdy 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 presents an opportunity to revenue from a promising play-to-earn mission that has already raised $6 million. With a strong roadmap, strategic tokenomics, and rising neighborhood help, the token is poised for important progress as soon as it launches on exchanges. Early traders may benefit from potential worth surges because the mission positive factors momentum.

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