Cryptocurrency Price Prediction

Algorand Price Prediction: Will ALGO Price Hit A New ATH Of $4 In 2022?

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Apr 11, 2022

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The ever-evolving cryptospace is home to a myriad of digital assets and protocols. One such emerging protocol is Algorand, which has managed to establish its reign in the industry. The network is built on the Pure Proof of Stake consensus mechanism. ALGO is a native token of the platform. The token acts as a payment gateway to pay for fees within the network.

ALGO is listed by most of the prominent exchanges such as Binance, Coinbase, Huobi, OKEx, and more. ALGO with its strengths has managed to make its way into the portfolios of investors. Are you keen on investing in ALGO? Look no further, as we bring to you the plausible price predictions of ALGO for 2022 and beyond!

Overview

CryptocurrencyAlgorand
TokenALGO
Price$ 0.4474
Market cap$ 0.0000
Circulating Supply$ 0.0000
Trading Volume $ 0.0000
All time high$ 0.0000 Jan 1, 1970
All time low$ 0.0000 Jan 1, 1970

Algorand (ALGO) Price Prediction For 2022

Potential LowAverage PricePotential High
$1.510$2.527$3.601

ALGO price had initiated the year at $1.645, continuing its recovery from the bottoms of $1.269. Which was seen on the 20th of December. After reaching its local top at $1.851 on the 5th of January. The prices slipped to $1.323 by the 10th of January. After a fake uptrend to $1.5, the price was pushed by the bears yet again. This time the price brushed levels at $0.804 by the 22nd of January. 

While the altcoin did pose a 38.5% recovery by the 8th of February. The market-wide plummet resulted in the digital asset following suit. Wherefore, the price of ALGO was seen ranging in a downtrend and later hit its support at $0.7241, by March 12th. After a prolonged stay at the support levels, the digital asset posed an uptrend on the 21st of the month. Which took called for a quarterly closure at $0.9835.  

Algorand’s (ALGO) Price Prediction For Q2

  ALGO price at the time of press is changing hands at $0.726. If it sees a spike in volumes it could gather steam to rush towards its immediate resistance at $1.028. A validation of a bullish leg-up from which, could take it to its quarterly closure at $1.502.

Whilst an equilibrium in buying and selling pressures could settle the price at $1.234. Conversely, lack of volumes and bearish sentiments could call for the digital coin’s potential low at $0.894.

ALGO’s Forecast For Q3

Pursuing the bullish momentum from the second quarter, the digital asset will have to surpass the resistance at $1.824. Which would require about 22% in gains, with the impetus coming from major announcements such as collaborations or adoptions. ALGO’s price could close the quarter with a potential high of $2.101.

On the contrary, failing to keep up its momentum and stance in the industry, the altcoin could fall to $1.287. That said, considering the maximum and minimum targets, the crypto asset’s price could settle at average levels of $1.5918.

ALGO Prediction For Q4

If the team undertakes community driving initiatives and sees impressive results from its efforts around greener NFTs. The price could retrieve the $2.33 mark. With further impetus from positive social sentiments and volumes, the altcoin could claim a new ATH at $3.601.

Whilst regular trade activities, in the absence of external catalysts, could settle the price at $2.527. The bears out-weighing the bulls could drag the price down to $1.510

Algorand’s Price Forecast For 2023

The Algorand community might concentrate on strengthening the protocol as well as the user base. By the end of 2023, the digital currency might reach as high as $5.25. On the flip side, negative criticism and FUD could result in the altcoin flipping down to $3.454

Price Prediction For The Next 5 Years

In the next 5 years, ALGO might be listed on many exchange platforms and the price is anticipated to intensify. The community might attract users and marketers with certain collaborations with other projects and startups. It might enrich more security to its platform and may concentrate on transparency. Wherefore, ALGO’s price is assumed to hit $8.56. On the flip side, if bears continue to dominate, the token might sink to $5.8.

YearPotential LowPotential High
2023$3.454$5.25
Next 5 Years$5.8$8.56

What Does The Market Say?

Wallet Investor:

According to the Wallet Investor, the ALGO price may hit a maximum of  $1.767, by the end of 2022. The firm pins the minimum and average prices for the year at $0.9073 and $1.329. Wallet Investor anticipates that the price may smash a potential high of $4.503 by the end of 2025.

Gov.Capital:

Gov. capital has revised its prediction for the  ALGO price, it expects the token to hit a maximum of $1.825. On the contrary, the firm believes, trend reversals in the market would plummet the price to $1.348. And with average buy and sell pressures it would end up trading at $1.587. 

The website has also made bullish predictions for the long term. The firm expects the altcoin to close in 2023 and 2025 with a maximum trading price of $4.706 and $12.566 respectively.

Digital Coin Price:

As per Digital Coin Price’s forecast, ALGO could hit a potential high of $1.03 by the end of 2022. The analyst from the firm expects the minimum and average prices to fall at $0.90 and 0.95. According to Digital Coin Price, the altcoin could hit a maximum of $1.12 by 2023 and $1.55 by 2025.

Long Forecast:

Long Forecast pins a bearish outlook for Algorand. They expect the price of Algo to settle at its regular price of $0.50 by the end of 2022. The prediction from the firm expects the possible minimum and maximum trading values at $0.43 and $0.54. That said, the average annual trade closures for 2023 and 2025 are expected to fall at $0.95 and $1.12.

To read our price forecast for Litecoin (LTC) click here!

What is Algorand?

The Algorand network was founded by Silvio Micali,  the network mainnet went live in June of 2019. Algorand platform holds the capacity to handle almost 1 million transactions per day. The network is one of the recognized public cryptocurrency blockchains. The protocol intends to deliver decentralization and security for the participants.

Algorand introduced the world’s first pure “proof-of-stake” foundational blockchain. Their advanced technology provides a set of efficient layer-1 blockchains that offers scalability, security, and built-in privacy. The network’s aim is to build global trust via decentralization. To offer an elegant technology that drives adoption by billions.

Fundamental Analysis

The platform is aimed to offer next-generation financial products, protocols, and exchange of value. Basically, the network acts as a bridge between decentralized and traditional finance. Their FutureFi product allows users to create and deploy tokens, NFTs, stablecoins, and securities. In addition to this Algorand wallet is a user-friendly way for anyone to interact with the public network.

The founder previously worked as a professor of computer science at the Massachusetts Institute of Technology. He was awarded the Turing Award in 2012 for his contributions to blockchain protocols, cryptocurrencies, and electronic cash. After research and gaining enough knowledge, he launched Algorand.

Soon after the launch in 2019, the network introduced some major events. Algorand 1.0 mainnet was launched in June 2019. Followed by Algorand 2.0 in November 2019. In the 2.0 update, smart contracts were introduced, and layer 1 smart contracts enforce custom rules and logic.

Our Algorand Price Prediction

The Algorand seems to be unstoppable with a series of events lined up for launch. This Defi based platform is the best-suited investment in the current uncertain market scenario. According to Coinpedia’s formulated ALGO price prediction. If the network launches upgrades such as Liquidity mining and staking, and game maker launch. The price may hit $3.6 by the end of 2022.

Conversely, if the network fails to execute its plan, then the price can flip into a bearish trap and dip to $1.5. Talking about the long-term, the price of the altcoin could hit a maximum of $8.7 in the next five years. That said, the win of bears could suppress the price down to $5.8.

Historical Market Sentiments

2019

According to Coinmarketcap, Algorand initiated its journey on June 20 with an effective trading value of $2.89. Dramatically, the token started to decline at its initial stage of the journey and plunged to $1.43 by the end of July. 

Further, the digital currency started to slump as the ALGO bears were ruling. As a result the token drastically plunged to $0.18 by the end of September. Further with certain price variations, the token traded at $0.23 to conclude the year 2019.

2020

On a bearish note, ALGO continued to trade at $0.21 during January. The price substantially recovered to $0.45 by the end of February and shockingly slumped to $0.12 by mid-March as the decline of cryptocurrency space amid the Covid-19 outbreak.

 Later the token significantly hit $0.65 and claimed a resistance level by mid-August and the price started to hover after. Algorand arrived at $0.33 in December to complete the year 2020.

2021

Following a bearish trend, ALGO entered the year 2021 with a trading value of $0.37. Later, the price started to reinforce as the token followed an upward trajectory. The token marked the yearly highs at $1.71 in the mid of February and dipped down, trending sideways further.

The price has seen massive ups and downs below $1 from May to July. Started a positive rally by the end of July. Following the uptrend, the price reclaimed a high of $2.37 by late September. 

Algorand price maintained uptrend momentum since the start of October. The price has risen from $1.62 to $1.95 at the same time. The asset remained choppy until mid-December and plummeted to $1.34 on 19th December by failing to hold the above resistance. 

Click here to read our price prediction of Ethereum Classic (ETC)!

FAQ

Q: Is Algorand a profitable investment?


A: If considered as a long term investment, ALGO could yield higher returns.

Q: How high will the ALGO price rise in 2022?

A: ALGO price could potentially shine to $3.601 by the end of 2022.

Q: What would be the possible maximum price of ALGO by the next five years? 

A: The digital asset could claim its potential high of $8.56 by the next five years.

Q: Where can I trade Algorand’s (ALGO)?

A: Algorand can be traded on exchanges like Binance, Coinbase Pro, Huobi Global, and OKEx, amongst others.

Q: Is Algorand Proof-of-Stake (PoS) or Proof-of-Work (PoW)? 

A: Algorand works on the Proof-of-Stake (PoS) consensus mechanism.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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