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Algorand Price Prediction – Will ALGO Price Hit $5 in 2022?

Algorand price prediction 2021 Prediction
  • Bullish ALGO price prediction ranges from $1.57 to $2.41.
  • ALGO price might also reach $10 soon.
  • ALGO bearish market price prediction for 2022 is $1.54.

This Algorand (ALGO) Price Prediction 2022 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 $1.9 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 30 cryptocurrencies in CoinGecko, a decent rank within the crypto industry. Its price has reduced by over 33% in the past one year.

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.

Nevertheless, the crypto market is moving sideways lately, and most cryptos are losing their previous gains. Is the scenario the same as the ALGO price? We’ll find out shortly in this ALGO price analysis 2022 article. But first, let’s have a look at what ALGO is.

What Is Algorand (ALGO)?

Algorand Coin (ALGO) is the native digital currency token of the Algorand Chain. Moreover, Algorand Chain is an open-source blockchain developed by the Algorand trading, payment, and financial services firm.

Algorand Chain is one of the products in Algorand’s lineup of solutions developed to accelerate the global adoption of cryptocurrencies. Moreso, the ALGO blockchain serves primarily as a vehicle that provides the Algorand Pay mobile payments app.

In the future, Algorand plans to grow the reach of the ALGO platform to power its other products. Currently, the top crypto trading platforms for ALGO are Huobi Global, OKEx, HBTC, Xtheta Global, and CoinTiger

Do you think this market performance of ALGO could make it a profitable cryptocurrency this year? Are you curious to find out? In this case, let’s head to the charts and find out in this CoinQuora ALGO price prediction 2022 article.

Algorand (ALGO) Current Market Status

ALGO is one of the most active and most talked about crypto assets in the crypto world. As a result, ALGO trades at a price of $0.9081 due to the recent crypto winter. Its price has been reduced by over 5.5% in the past 24-hours. It has a 24-hour trading volume of $229,257,349.

If this performance keeps going, ALGO might level up its crypto ranking closer to the top 20 cryptos. Indeed, this is possible if the bullish market remains with the crypto throughout the year. Truly, an amount favored by investors and traders around the world.

Algorand (ALGO) Price Analysis 2022

Currently, ALGO holds 26th place on CoinGecko. But will the recent changes and development in the blockchain help the digital currency price to reach higher? Let’s proceed to the charts in this ALGO price prediction article.

ALGO/USDT 1Day Chart Showing Keltner Channel
ALGO/USDT 1Day Chart Showing Keltner Channel (Source: Tradingview)

From the Keltner Channel indicator above for ALGO/USDT, we can observe that the market seems to be consolidating for sometime around the second part of the curve. If the bulls have their way, the price of Algorand could rise soon.

ALGO/USDT 1Day Chart Showing Relative Strength Index
ALGO/USDT 1Day Chart Showing Relative Strength Index (Source: Tradingview)

Since the relative strength index of Algorand (ALGO) is 39.35 from the chart above, we can see that the present trend is weak. However, since it is pointing upward, it could move towards the 50 RSI mark, to indicate how strong the trend is.

ALGO/USDT 1Day Chart Showing 90-MA and 30-MA
ALGO/USDT 1Day Chart Showing 90-MA and 30-MA (Source: Tradingview)

From the chart above for the moving averages, we can see that the future is bullish for Algorand (ALGO) since the 90-MA is above the 30-MA.

Algorand (ALGO) Price Prediction 2022

The chart below shows that ALGO has performed great over the past few days. If this trend continues, ALGO might run along with the bulls, overtaking its $1.1123 resistance1 level and climb higher to $2.4098, the 2022 bullish signal.

ALGO/USDT 1Day Chart Showing the Resistance and Support Levels
ALGO/USDT 1Day Chart Showing the Resistance and Support Levels (Source: Tradingview)

Conversely, if the investors turn against the crypto, the bears might take over and dethrone ALGO from its uptrend position. In simpler terms, the price of ALGO might plummet to almost $0.6947, a bearish signal.

Meanwhile, our long-term ALGO price prediction 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $3.28 this year. However, that will only happen if it breaks many previous psychological resistances.

Algorand (ALGO) Price Prediction 2022

If this bullish trend continues, ALGO will reach $2.4098 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $1.5745. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Algorand (ALGO) Price Prediction 2023

The price of ALGO can move even great heights, however reaching $10 Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency ALGO breaks past psychological resistance level.

Algorand (ALGO) Price Prediction 2024

As per the latest upgrades, developments, ALGO price prediction, and new project forecasts of the platform. Moreover, this might boost the price of ALGO in the crypto market, and it will be the best investment as the price can spike and reach around $20.

Algorand (ALGO) Price Prediction 2025

In the next four years, ALGO prices could race up to $35. However, reaching this level could not be so difficult for ALGO as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that ALGO has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Algorand (ALGO) Price Prediction 2026

As per the latest upgrades, developments, ALGO price prediction, and new project forecasts of the platform. Moreover, this might boost the price of ALGO in the crypto market, and it will be the best investment as the price can spike and reach around $100.

Conclusion

ALGO has a bright future ahead of it from 2022 to 2026. With ongoing developments happening within the ALGO ecosystem, as well as in the overall crypto market, we may see ALGO reach new heights.

Meanwhile, our long-term ALGO price prediction 2022 is bullish. In addition, it has a high possibility of surpassing over $$1.5745 and may reach above $2.4098 this year. However, that will only happen if it breaks past many psychological resistances.

As said above, ALGO may even reach $5 if investors have decided that ALGO is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is ALGO?

Algorand is a self-sustaining, decentralized, blockchain-related network that supports a wide range of applications. Moreover, these systems are scalable, secure, and efficient, all critical properties for effective applications in the real world.

How to buy ALGO Tokens?

Like other digital assets in the crypto world, ALGO can be traded on many exchanges. Users can obtain ALGO tokens by purchasing them from cryptocurrency exchanges such as OKEx or Huobi Global.

Is ALGO worth buying?

ALGO is considered one of the top-rising cryptocurrencies this year. It is a good investment in 2022. However, crypto traders need to take extra care when trading in cryptocurrencies, as they are highly volatile.

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 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.

What will be the Algorand price by 2022?

Algorand (ALGO) price is expected to reach $2.4098 by 2022.

What will be the Algorand price by 2023?

Algorand (ALGO) price is expected to reach $10 by 2023.

What will be the Algorand price by 2024?

Algorand (ALGO) price is expected to reach $20 by 2024.

What will be the Algorand price by 2025?

Algorand (ALGO) price is expected to reach $35 by 2025.

What will be the Algorand price by 2026?

Algorand (ALGO) price is expected to reach $100 by 2026.

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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Chukwuemeka is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.