Price Analysis View Non-AMP

Algorand (ALGO) Surges Over 30% Amid Network Growth—Is $0.5 the Next Target?

Published by
Sahana Vibhute

Algorand (ALGO) has posted a remarkable 30%+ price surge in the past few days, drawing attention from both investors and traders. Currently trading near $0.28, ALGO has recovered significantly from its June lows of $0.145. This bullish momentum is fueled by a spike in on-chain activity, rising staking interest, and a strong technical breakout pattern.

With the altcoin market showing signs of a broader recovery, the current price action has opened the possibility of a further move toward the $0.30–$0.36 range if bullish conditions persist.

Network Activity Boosts Bullish Sentiment

One of the key catalysts for ALGO’s recent rally is the sharp increase in on-chain transactions, which jumped over 30% week-over-week, hitting nearly 5.8 million. Active wallet addresses also grew by 22%, reflecting expanding user participation.

In addition, USD Coin (USDC) supply on Algorand rose 77%, now standing at over $120 million, indicating growing interest in the protocol’s DeFi ecosystem. These fundamental improvements show strong ecosystem usage, often a bullish signal for token valuation.

Staking Launch and Whale Accumulation Add Fuel

The launch of ALGO staking on major exchanges such as Binance and Crypto.com further strengthened investor confidence. By incentivizing long-term holding, staking has decreased the circulating supply and encouraged bullish speculation.

Meanwhile, whale wallets have increased their holdings by roughly 5%, indicating growing institutional or high-net-worth interest. At the same time, retail investor dominance has declined, tightening the supply and providing additional price support.

Technical Breakout Confirms Reversal Pattern

ALGO has broken out of a double-bottom formation on its daily chart, typically a strong reversal signal. The breakout above the $0.24–$0.26 resistance zone suggests the next major price target could be between $0.30 and $0.36, with short-term support around $0.22. Momentum indicators like the Relative Strength Index (RSI) and MACD have flipped bullish, reinforcing the trend shift.

The daily chart shows the formation of a double-bottom chart while the price attempted to rise above the neckline around $0.3 and $0.31. Although the price is facing some upward pressure, the OBV has displayed a bullish divergence, hinting towards strong buying activity. Besides, the RSI has entered the overbought zone and as long as the levels remain within this zone, the ALGO price will continue to maintain an ascending consolidation. 

Can the Momentum Continue?

Despite the strong fundamentals and bullish technical setup, investors should remain cautious. ALGO is still down significantly from its all-time high of $3.28, and broader crypto market sentiment will play a crucial role in determining whether this rally is sustainable or short-lived.

However, if Algorand’s developer ecosystem continues to expand—especially through new integrations like Wormhole Native Token Transfers (NTT)—the altcoin could gain further traction in the DeFi and interoperability space, paving the way for a medium-term push toward $0.40 and beyond.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

XRP’s $5 Target Attracts Attention, But Ozak AI’s $1 Launch Goal Could Deliver 100x

Crypto markets are buzzing with bold predictions as the bull cycle continues to unfold, and…

August 31, 2025

Layer Brett Overtakes Shiba Inu and Pepe Coin Hype As Experts Discuss 25,000% Potential

Meme coins haven’t lost their charm, but they’ve definitely evolved. Shiba Inu and Pepe Coin…

August 31, 2025

Solana and Cardano Price Targets For Late 2025 and The Breakout Crypto Eyeing 3500% Gains

Late-2025 is shaping up to be a big test for the majors. Solana has traders…

August 31, 2025

Major XRP Price Prediction, Latest Pi Network News and The Crypto Being Called The Next PEPE Coin

From bold XRP price prediction headlines to fresh Pi Network news, 2025 has no shortage…

August 31, 2025

Pi Network News: Why 50% Of Crypto Holders Expect PI Price To Crash In 2026 As New Lows Expected In September

Crypto investors are keeping a close eye on Pi network updates, as nearly 50% of…

August 31, 2025

Cardano Price Vs Top Trending Altcoin Remittix: ADA Whales Back New $RTX As Real Utility Altcoin Hits $22.3M

The Cardano Price has been in the spotlight this week, with the project nearing possible…

August 31, 2025