Cryptocurrencies: 6460 / Markets: 48197 Market Cap: 24h Vol:
Cryptopolitan
2021-09-25 03:59:04

Algorand Price Analysis: ALGO bounces back from downtrend and tests $1.79

TL;DR Breakdown Algorand price analysis is bullish for today.ALGO/USD saw a retest of the $1.50 support again overnight.Alogrand starts to move higher today. The price analysis for Algorand is bullish today, as another rejection for more decline was noted at the $1.50 support level overnight. Since then, ALGO/USD has advanced, suggesting more upside to come later today. Over the last 24 hours, the market has been in decline. Bitcoin and Ethereum are both down by 1.81 percent and 2.7 percent, respectively. Meanwhile, Solana (SOL) is still the worst performer with a loss of 6.76%. Algorand price movement in the last 24 hours: Algorand rejects the $1.50 support again Last week, the price of ALGO/USD reached a high of $1.834 before retracing slightly to test the crucial region between $1.53 and $1.78 during today’s action. Volatility has been rather high over the past 24 hours, with trading volume declining by 22 per cent and totaling $711 billion. ALGO/USD 4-hour chart: ALGO ready to break above $1.90 resistance? On the 4-hour chart, we can observe that the Algorand price is beginning to gather momentum once again, as bulls attempt to recoup some of the losses incurred earlier this week. ALGO/USD 4-hour chart. Source: TradingView The Algorand price has been under significant bearish pressure for the previous weeks. ALGO/USD made a new swing high at $2.5 in early May, after a promising start to the month. ALGO followed a si...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer