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- 1 Algorand’s PPoS has a highly democratic consensus mechanism and it takes only one ALGO token to participate in the network and secure it.
- 2 The ALGO price has shown good performance this month and last week on the chart.
Algorand is a blockchain network that allows various applications to run on a decentralized and self-sustaining platform, unlike Bitcoin and other blockchain-oriented cryptos that have slow and costly transactions. It aims to achieve cheaper and faster transactions by using a permissionless pure proof of stake (PoS) blockchain protocol.
Overview
At the time of writing, ALGO had a market value of $852 Million and a fully diluted value (FDV) of $1.07 Billion. It was trading at a CMP of $0.10723, down by 3.05% in the last 24 hours. It has a total supply of 10.5 Billion tokens and a circulating supply of 7.9 Billion tokens.
Algorand Price Prediction For 2023
The Algorand price was in a downtrend earlier and was falling from the start of the year and making a low at $0.082. From this low level, the price attempted multiple times but stayed in a consolidation range and beneath the downward trendline as resistance was strong.
However, the Algorand price has performed outrageously well last month from the support zone which was tested multiple times. As the ALGO price consolidated for a good amount of time, this showed the level was reliable and strong.
After that, the price displayed a surge in bullish momentum in the ALGO price and the price reflected the same on its chart by showing a bullish rally. At press time, the crypto stayed above all the major EMA’s and showcased buyer’s strength on the charts.
As per Algorand’s (ALGO) price prediction, if the market continues to advance smoothly, the potential high it could reach is $0.14 by the end of December 2023. While the average price of the Algorand is expected to be around $0.11.
Algorand Price Prediction For 2023-2030
Algorand Price Prediction For 2024
If in 2023 the price reaches a potential high of $0.14, then it could reach a potential high of $0.28 by 2024, showing a 100.00% increase from 2023. Meanwhile, the average and minimum values are projected to be $0.22 and $0.15 respectively.
Algorand Price Prediction For 2025
According to the 2025 price prediction, it could make a high of $0.36. This shows a 157.14% potential ROI for those who stayed invested in it from 2023. On top of that, the average price of ALGO is predicted to be around $0.24 and the lowest price could be $0.16.
Algorand Price Prediction For 2026
If in 2025, the price reaches the $0.36 mark, ALGO could skyrocket to $0.57, and display a 307.14% jump from 2023. The expected average and minimum values are $0.45 and $0.37, respectively.
Algorand Price Prediction For 2027
After making higher highs each year, the price might take a halt. On top of that, the prediction for 2027 is that it could reach a peak value of $0.52 reflecting a 271.43% increase from its 2023 price. Moreover, the expected average value of ALGO is 0.47, and the minimum value is expected to be $0.38.
Algorand Price Prediction For 2028
Algorand (ALGO) could thrust upwards to $0.58, and give a 314.29% increase in ROI from 2023. Meanwhile, the average and minimum prices are forecasted to be $$0.49 and $0.38, respectively.
Algorand Price Prediction For 2029
If in 2028, the crypto manages to reach a potential high of $0.58, then it could deliver a tremendous growth in price and reach $0.74 and surprise investors by giving them 428.57% ROI from 2023. Furthermore, the average and minimum values are projected to be $0.57 and $0.47.
Algorand Price Prediction For 2030
According to the 2030 price prediction highlights, it could peak at $1.0. This shows a 614.29% potential ROI for those who have invested in 2023. On top of that, in 2030, the average price of ALGO is predicted to be around $0.83 and the lowest price could be $0.72.
Summary
The ALGO crypto has a good potential to grow in the future as adoption increases. Per the prediction for 2023-2030, ALGO could achieve the $1 milestone by the end of 2030, based on its past price performance and current market trends.
Technical Levels
Support Levels: $0.10 and $0.08
Resistance Levels: $0.13 and $0.14
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
