Algorand Price Prediction for Today, October 25: ALGO/USD Approaches $0.35 Level

The Algorand price prediction is changing hands at $0.33 as the technical indicator Relative Strength Index (14) crosses above the 50-level.

Algorand Market Price Statistic:

• Algorand price now: $0.33
• Algorand market cap: $2.36 billion
• Algorand circulating supply: $7 billion
• Algorand total supply: $7.2 billion
• Algorand coin market ranking: #29

ALGO/USD Market

Key Levels:

Resistance levels: $0.40, $0.42, $0.44

Support levels: $0.28, $0.26, $0.24

ALGO/USD is currently trading around $0.33 and once it manages to surpass the potential resistance of $0.34, the next target could be located at $0.35 where it trades above the 9-day and 21-day moving averages. However, a push from here could send the price straight to around $0.36 as the daily low is spotted at the $0.31 support level. If the current level fails to hold strong, the Algorand price could slip below the 9-day and 21-day moving averages.

Algorand Price Prediction: Is Algorand Ready for the Upside?

Looking at the daily chart, the Algorand bulls are now coming back into the market. Therefore, if the buyers can put more effort and push the market price towards the upper boundary of the channel, ALGO/USD may likely hit the resistance levels of $0.40, $0.42, and $0.44 respectively. In addition, any bullish movement above these key resistance levels may likely encourage further buying.

Moreover, a break below the lower boundary of the channel may bring the coin toward the critical supports at $0.28, $0.26, and $0.24. Meanwhile, looking at the technical indicator Relative Strength Index (14), Algorand may exhibit the tendencies to follow an upward trend as the signal line moves toward the 60-level, suggesting that the market may head to the upside.

When compares with Bitcoin, the Algorand price is attempting to cross the 9-day and 21-day moving average which may hit the nearest resistance at 1800 SAT. Therefore, unless this resistance effectively holds and the price ends up closing above it, there might not be any reason to expect a long-term bullish reversal.

However, bringing the price towards the lower boundary of the channel could refresh lows under 1624 SAT as a possible bearish continuation may likely hit the major support at 1300 SAT and below. More so, the buyers may push the coin to the potential resistance at 2000 SAT and above as the technical indicator Relative Strength Index (14) is ready to cross above the 50-level, suggesting more bullish signals.

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