Algorand Price Prediction
(ALGOUSD)$0.159$0.143 (4.67%)Market Stats and Forecasts
Algorand Description
In 2019, Algorand was introduced as an open-source platform with a secure payment focus. The project's primary objective is to find a solution for "Scalability," a chronic issue that most cryptocurrency initiatives encounter. The project implemented an advanced "proof-of-stake" consensus mechanism to tackle this issue. Users will only be able to create a new token that they have earned. Also, it emphasizes higher transaction speed, which leads to less energy consumption. There is decentralization throughout the network.
Numerous applications, including supply chain management, decentralized finance, and smart contacts, are made possible by the special structure of this network. This network is looking into cutting-edge blockchain applications in collaboration with premier organizations such as FIFA and the Marshall Islands. The Algo project’s partnership will help the network expand its adoption in the crypto market. As we already discussed, it supports smart contacts, which automates the process of agreements and transactions. Algorand network provides opportunities for advanced applications in finance and supply chain management. This is a potential coin that can give investors good investment returns.
The Algorand token has a market capitalization of around $1,118,131,890.In the crypto market, this token is presently ranked 72. There are presently 8.2 billion ALGO tokens available for trading on the market. Algorand token has huge potential because of its rewardful use cases. As an investor this might be a good coin to invest in as an investor, but consider all the risk factors before investing in it because the crypto market is highly volatile. If you are new to crypto investment, invest according to your risk-taking capability.
Forecast Based on AI Model
Drawing insights from our analysis that integrates historical price movements of Algorand, Our analysis, guided by the machine learning experts, yields forecasts for Algorand price trajectory up to 2024. With a comprehensive understanding of Algorand historical price movements and utilizing advanced algorithms, our team has derived predictions with a mean absolute error (MAE) value of 1 and an error value of 0.40%.
For the year 2024, our analysis indicates a projected yearly low of $0.138, with the high anticipated to reach $0.216. These forecasts are the outcome of a comprehensive approach designed to provide investors with reliable insights for strategic decision-making.
Prediction Table based on AI Model
| Date | Low | Average | High | ROI |
| 2024-07-27 | 0.16 | 0.165 | 0.171 | 3.26 |
| 2024-07-28 | 0.163 | 0.167 | 0.17 | 4.40 |
| 2024-07-29 | 0.165 | 0.17 | 0.175 | 5.55 |
| 2024-07-30 | 0.169 | 0.174 | 0.179 | 7.87 |
| 2024-07-31 | 0.167 | 0.172 | 0.179 | 7.87 |
| 2024-08-01 | 0.165 | 0.17 | 0.175 | 6.68 |
| 2024-08-02 | 0.165 | 0.168 | 0.172 | 5.51 |
| 2024-08-03 | 0.163 | 0.168 | 0.173 | 4.35 |
| 2024-08-04 | 0.16 | 0.165 | 0.171 | 4.35 |
| 2024-08-05 | 0.163 | 0.168 | 0.173 | 4.35 |
| 2024-08-06 | 0.163 | 0.168 | 0.173 | 4.35 |
| 2024-08-07 | 0.163 | 0.168 | 0.173 | 5.50 |
| 2024-08-08 | 0.161 | 0.165 | 0.17 | 4.33 |
| 2024-08-09 | 0.163 | 0.17 | 0.177 | 6.63 |
| 2024-08-10 | 0.162 | 0.169 | 0.175 | 5.46 |
| 2024-08-11 | 0.161 | 0.165 | 0.168 | 4.30 |
| 2024-08-12 | 0.163 | 0.167 | 0.172 | 5.44 |
| 2024-08-13 | 0.16 | 0.165 | 0.17 | 4.28 |
| 2024-08-14 | 0.165 | 0.168 | 0.173 | 5.43 |
| 2024-08-15 | 0.161 | 0.167 | 0.173 | 5.43 |
| 2024-08-16 | 0.165 | 0.168 | 0.173 | 6.59 |
Algorand Price Prediction 2025
According to our analysis conducted via our Machine Learning Model,Algorand is forecasted to achieve its peak value in 2025 at approximately $0.326, while potentially dipping to a low of $0.163. The average trading value during this period is projected to hover around $0.293.Algorand Price Prediction 2026
In 2026, Algorand is anticipated to potentially reach its peak value of $0.472, with a possible lower value of $0.255. The average trading value for this period is estimated to be approximately $0.425.Algorand Price Prediction 2027
As we look ahead to 2027, the trajectory of the Algorand coin may offer investors unexpected turns. Projections suggest peaks hitting $0.657 and lows stabilizing around $0.357, with an average trading value resting near $0.588.Algorand Price Prediction 2028
In the upcoming year of 2028, investors may witness noteworthy fluctuations in the value of the Algorand coin. Projections point towards a maximum value of $1.08, a minimum of $0.516, and an average value of approximately $0.955.Algorand Price Prediction 2029
Our market analysis indicates optimistic prospects for the Algorand crypto in 2029, with projected peaks at $1.85 and floors at $0.88. Moreover, the average trading value of this coin is anticipated to hover around $1.65.Algorand Price Prediction 2030
In 2030, our crypto analyst team and Machine Learning experts envision a varied outlook for the Algorand token. Projections indicate highs near $2.6, potential lows around $1.39, with an average value of about $2.31.Following the presentation of our forecast table, we provide users with convenient procedure links, offering insight into the comprehensive steps taken to derive our predictions. These resources afford transparency into our analytical process, detailing methodologies, data sources, and algorithms used to formulate forecasts, empowering users to grasp the intricacies behind our predictions.
Forecast Based on Technical Analysis
Bitcoin's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strength Index - RSI (14)
Both the 200-day and 50-day Simple Moving Averages (SMA) are forecasted to rise, with the former expected to reach $0.143 by the Jul 27, 2024. The Relative Strength Index (RSI) stands at 0.8758, indicating a Fall market stance. Overall, while the long-term forecast is Sell.
About algo
Algorand Price Prediction FAQ
Kshitez Pratap Singh
Kshitez Pratap Singh possesses deep expertise in data analytics and machine learning. He excels at deriving actionable insights from complex datasets. Kshitez combines his analytical skills and machine learning knowledge to develop models that support data-driven decision-making, helping businesses and investors navigate and thrive in the finance niche.
Mohit Kumar
Mohit Kumar is a computer science engineer with a specialization in Artificial Intelligence and Machine Learning (AIML). he has honed his expertise in developing sophisticated machine-learning models tailored for the financial sector, exploring various aspects of forecasting and statistical modeling to provide invaluable insights for informed investment decisions in the volatile world of cryptocurrencies.
Sentiment: Sell
The Algorand is predicted to surge by 12.38% to $0.174 by Jul 30, 2024, though current indicators show a Bearish sentiment with 17 out of 30(57%) green days and a notable 2.51% price volatility over the past month.
