$0.27
$-0.02 (-5.35%)
End-of-day quote: 2022-10-17
ALGO/USD

Is Algorand on an upswing?

No, since January 13, 2022, Algorand has been in a long-term downward trend and has decreased by -80.15 percent over that period. The 200-day line is currently 75.64 percent away from the current price. It is 30.99 percent away from the 100-day line and 23.12 percent away from the 50-day line.

EMA 200-day line
EMA 100-day line
EMA 50-day line
SMA 200-day line
SMA 100-day line
SMA 50-day line

The Algorand Forecast for 2023

Let's take a deeper look at the one-year forecast since it is the most precise of the analysts' forecasts.

Analysts had a wide range of forecasts for the Algorand price over the next year. The most optimistic predicted a 12-month price target of $0.31, implying an 87 percent raise, while the worst-case scenario would be $0.24.

The most recent average price target for the next year is $0.27, and it's the most crucial.

This means that Algorand has a potential -0.37% decrease in value for 2023.

ALGO - Relative Strength Forecast

Algorand broke through the 25 strength line from above on 2022-06-24 and then changed into a weak trend, which thereby generated sell signals that lasted one month. Early Sep 2022 we see how the relative strength falls from above 25 to below 25. Thus, Algorand has been in a sell signal since 2022-09-03.

ALGO - Trend Prediction

ALGO - Price Volatility Prediction

From 09/06/2022 we see a strong Algorand above the moving average causing rising prices of Algorand. From mid Sep 2022 we then see a strong Algorand, which then triggers a buy signal.

ALGO - Relative Strength

From 09/26/2022 to 09/27/2022 Algorand was so overbought that this led to a reversal trend. Mid Oct 2022 we then see Algorand developing more and more weakness, which is a sell signal.

ALGO - Momentum Forecast

Mid Oct 2022 Algorand left the oversold zone to the upside, which led to a short-term _-val__ change in trend. In October we then see weak volatility for Algorand for a longer period of time which led to negative signals for Algorand.

What Does the Future Hold for Algorand?

Algorand's long-term prospects appear to be excellent. 15 analysts predicted that Algorand would reach $0.27 by March 2025. The Algorand price is expected to be $0.27 in five years, according to their five-year forecast through March 2027. By 2030, the long-term forecast is anticipated to be $0.26.