MarketPredictionPrice Analysis

Algorand (ALGO) Price Prediction 2021 – Will ALGO Reach $10 in 2021?

  • Bullish Algorand (ALGO) price prediction 2021 is up to $10.
  • Algorand (ALGO) skyrocket price prediction in 2022 to 2023 is $20.

This Algorand (ALGO) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ALGO price analysis and prediction.

The crypto world seems to be in a good mood in the past few months. In fact, the current market capitalization of the whole crypto market amounts to almost $2 trillion. Indeed, a whopping number that can’t be ignored by financial investors around the world.

Algorand (ALGO) is one of the digital assets in the crypto market that contributes to the success of the crypto world. Currently, the crypto ranks as one of the top 50 cryptocurrencies in CoinGecko, a decent rank within the crypto industry.

In terms of technology, ALGO is a platform that revolutionizes the traditional financial industry with its blockchain technology. Recently, ALGO partnered with Società Italiana degli Autori ed Editori (SIAE) to provide security to its authors’ rights. As a result, ALGO launches over 4 million NFTs that represent over 95,000 SIAE members’ rights.

Algorand (ALGO) Current Market Status – ALGO Price Prediction 2021

ALGO is one of the most active and most talked about digital assets in the crypto world. As a result, ALGO trades a high price of over $1 with a 12-month growth rate of almost +800%. Truly, this is a performance that should not be overlooked in the crypto world.

If this performance keeps going, ALGO might level up its crypto ranking closer to the top 10 cryptos. Indeed, this is possible if the bullish market remains with the crypto throughout the year. If it does, the market capitalization of the crypto may reach the bullish amount of $5-$6 billion. Truly, an amount favored by investors and traders around the world.

Algorand Price Prediction 2021

ALGO is one of the most active digital assets in the crypto market. For this reason, the market capitalization of ALGO amounts to almost $3 billion with a $500 million 24-hour trading volume.

Do you think this is enough to make the crypto profitable this year? Are you already excited to know? Therefore, join me, and together let us check the graph in this CQ price Algorand (ALGO) prediction 2021.

Algorand Source TradingView
(Source: TradingView)

Based on the graph above, ALGO managed to break and pass all the bear traps in the past few months. Also, the chart displays ALGO’s price surge to almost +500% last Feb 12, a record that catches the attention of investors and traders around the world. If this uptrend continues, ALGO might have the chance to reach its $1.8 resistance level and go further.

In addition, if ALGO will repeat its performance from last Feb 12 with over +400% increased rate, ALGO may reach $10. Of course, this might be possible if the bullish market and investors continue to favor the crypto.

Meanwhile, the relative strength index (RSI) remains within the 70-30 range. In other words, the crypto is still in a good position for trading with no signs of any major price reversal. On the other hand, the moving average convergence/divergence (MACD) of ALGO is about to perform a bullish crossover. In this case, traders and investors can expect more bullish days ahead of the crypto.

Read also: Vethor (VTHO) Price Prediction 2021

FAQ

Does ALGO have a future?

Yes, for as long as the investors and the bullish market continue to side with the crypto.

Will ALGO price reach $20?

ALGO price may reach $20 in 3-4 years if the crypto keeps pumping its growth rate.

Is ALGO coin a good investment?

ALGO is one of the active digital assets in the crypto market. In addition, ALGO is now one of the famous crypto platforms that also creates NFT’s.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies. 

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Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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