• Bullish ALGO price prediction may reach $5 in 2022
  • ALGO may reach the bullish price of $3 in no time

This Algorand (ALGO) price prediction article is purely based on the opinion of CNL alone. In this article, you will see and learn the analysis we have considered in this ALGO price prediction.

The crypto space is now experiencing a market bloodbath due to its wild market volatility characteristics and the rules set by other countries globally. The cold treatment of China and the love-hate relationship of India with cryptocurrencies are just some of the reasons why the industry is at its lowest today.

However, Algorand is one of the crypto assets that continues to defend its position against the raging bears in the market.

Can ALGO reach $10 in 2022? Are you already curious to know? But before we proceed to our ALGO prediction, let us know first “What is ALGO?” in this ALGO prediction 2022 article.

ALGO Overview (At the time of writing)

CryptocurrencyAlgorand (ALGO)
TokenALGO
Price$1.38
Market Capitalization$8,685,228,256
Total Supply6,894,219,192
Trading Volume$259,637,962
All-Time High$3.56
All-Time Low$.10

What is Algorand (ALGO)?

Algorand (ALGO) is the native digital asset of the Algorand Chain. It is the world’s first pure of stake foundation blockchain created for the future of finance. Furthermore, the network enables a set of high-performing Layer-1 blockchain that provide security, scalability, complete transaction finality, built-in privacy, Co-Chains, and advanced smart contracts that are important in the FutureFi world. 

Now that we already have an idea about ALGO, do you think ALGO will be beneficial crypto in 2022? Therefore, what are we waiting for? Let us see the charts in this ALGO price prediction.

Algorand (ALGO) Price Prediction 2022

Algorand is one of the solid cryptos in the space that continues to provide a scalable, secure, and decentralized digital currency and transactions platform. At the time of writing, ALGO ranks as one of the top thirty assets in CoinGecko. This is all due to its huge market cap that amounts to over $8.6 billion. 

Source: TradingView

As seen in the graph above, ALGO keeps its trading position above the Fibonacci level of .78, an uptrend position. Currently, the crypto is moving within the trading price from $1.2 to $1.6. In this case, we can say that ALGO is playing pretty well against the market’s wild volatility. 

If this keeps on, there might be a chance that ALGO might break out from the price of $1.6 and surpass the Fibonacci golden ratio level of .68. If it does, there is a big chance that ALGO price may surge and break on resistance to another and reach the bullish price of $3 in no time.

However, if ALGO fails to maintain its current place in the market, the bears may gain the upper hand and turn the bullish tide the other way around. 

Source: TradingView

Meanwhile, this second chart displays the successful growth rate of ALGO in the past 3 months of the year. This increased rate reached over +351%, which boosted the ALGO price from $0.6 in July to $3 in November 2021. Indeed, this price level made the crypto community go wild and crazy. Hence, if ALGO is able to create something amazing like that today, ALGO might skyrocket and reach the moon price of $5 to $6. 

But of course, this price forecast of ALGO still depends on the direction of the market and the behavior of its network investors. 

Source: TradingView

On the other hand, the crypto’s Relative Strength Index (RSI) is still within the 70/30 range. In short, ALGO is neither overbought nor oversold. This means that users can trade with confidence without the fear of any major price reversal. However, if the price of ALGO goes beyond the 70/30 range again, it will be a different story. 

Nevertheless, it is wise that traders stick to the rules of the indicator that they are using. Through this, traders can have a solid strategy on how to deal with the wild swing of the crypto market.

Other Market Prediction for ALGO in 2022

Digitalcoin

Digitalcoin is one of the trusted names in the crypto world, as the firm claims. This is because it has already established accurate cryptanalysis and the latest news stories over time. For this reason, the 2022 forecast of Digitalcoin for ALGO amounts to $1.95.

Wallet Investor

By using their latest technical analysis, the platform updates its network prices and predictions every three minutes. For this reason, the 1-year forecast of Wallet Investor for ALGO amounts to $2.57.

Market Prediction for Algorand (ALGO) Price 2022, 2023, 2024 and 2025

Algorand (ALGO) price prediction 2023 is up to $2.15 (estimated)

Algorand (ALGO) price prediction 2024 is up to $2.31 (estimated)

Algorand (ALGO) price prediction 2025 is up to $2.84  (estimated)

Algorand (ALGO) price prediction 2026 is up to $3.03  (estimated)

Conclusion

Algorand (ALGO) continues to be one of the aggressive and solid digital assets in the crypto space. Therefore, the conclusion for the Algorand (ALGO) price prediction in 2022 amounts to $5. However, this forecast still depends on how the market will treat Algorand in the future.

FAQ

Algorand (ALGO) a good investment?

Algorand is one of the iconic networks in the crypto space. It is the world’s first pure of stake foundation blockchain created for the future of finance. Through this, we can say that ALGO has the potential to be a good investment in the next months of the year.

Will Algorand (ALGO) prices go up?

The price status of ALGO depends on many different factors, one of which is the current market situation. If ALGO is able to invite more traders and stakers to the platform, there is a big chance that the price of Algorand will go higher.

Why is Algorand (ALGO) going down?

The crypto market is very unpredictable due to volatility. Any crypto in the space cannot evade these wild market swings of the market. One factor to consider is the massive dumping of tokens made by the whales in the ALGO network, an event that is very uncontrollable.

How to buy Algorand (ALGO)?

The Algorand crypto is one of the iconic projects in the space. The HitBTC exchange is one of the famous crypto exchanges supporting ALGO crypto.

Is Algorand (ALGO) Crypto?

Yes, ALGO is a crypto that uses blockchain technology.

Disclaimer: The technical analysis expressed in this article does not necessarily reflect the views of CryptoNewsLand (CNL). Readers of this article should not take this as financial advice. CNL strongly recommends that all users do their own in-depth research before investing in cryptocurrency.

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Crypto News Land (cryptonewsland.com), also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

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