If you want to invest in or buy Algorand and wonder what the right price to start accumulating ALGO is, then you are at the right place. As we go through the analysis, we will determine different patterns and how ALGO reacts to them. We will also see support and resistance, which is a good area for any instrument to buy or sell. Without any further delay, let’s dive into Algorand price analysis and explore different opportunities arising from it.
Algorand Price Analysis of May 3, 2025
An expanding triangle appeared in the price of Algorand, which marked the high for the day at $0.2238. The expanding triangle pattern broke to the downside at 03:15 UTC, supported by a death cross of MACD. The ALGO price dipped to the downside and formed a downward-moving channel. The downward-moving channel broke out to the upside at 05:05 UTC, but the upside ALGO breakout failed, and the price formed a range. The range broke out to the downside at 06:40 UTC, supported by a death cross of MACD. Price dipped to the downside and formed a support zone at $0.2150 and a resistance area at $0.2170.
Chart 1: Analysed by vallijat007, published on TradingView, May 3, 2025
Price broke to the upside at 12:35 UTC, supported by a golden cross of MACD. Price spiked to the upside and formed an upward-moving channel, which is a traditional pattern for a strong trend. But the upward-moving channel broke out to the downside at 15:05 UTC, supported by a bearish signal, and formed another upward-moving channel. The upward-moving channel broke to the downside at 16:25 UTC, supported by the cross of MACD. Price dipped to the downside and formed an expanding triangle pattern.
ALGO’s Expanding Triangle Breakdown: How Low Can It Go?
That expanding triangle pattern broke out to the downside at 19:05 UTC, supported by the cross of the MACD. Price moved to the downside and formed a support area at $0.2130. In the meantime, at 19:45 UTC, RSI dropped below the level of 30, indicating oversold market conditions and suggesting a reversal or at least a pullback. A resistance zone developed at the level of $0.2160.
Price broke to the downside from the support area at 00:50 UTC, supported by a death cross of MACD. Price dipped to the downside and marked the low for the day at $0.2110. In the meantime, RSI again dropped below the level of 30, indicating oversold market conditions, suggesting a reversal or at least a pullback. If the ALGO breakout fails, then the price may rise to the level of $0.2160, and if the breakout succeeds, then the price may drop to the level of $0.2000.
Key Levels to Watch Before Accumulating ALGO
Algorand price is currently showing a high-frequency pattern of failed breakouts and brief trends, with price action largely confined to a tightening range. The $0.2130–$0.2160 zone has proven reactive, while the daily low at $0.2110 highlights strong bearish pressure. Repeated RSI dips below 30 signal potential reversal zones, but without strong follow-through, buyers remain cautious. If the ALGO price holds above $0.2110 and breaks $0.2160 with momentum, a short-term recovery could follow. However, a confirmed breakdown below $0.2110 could open the door to a deeper slide toward $0.2000. Traders should wait for confirmation before taking directional positions.
Algorand (ALGO) Price Analysis of May 7, 2025
The session marked the daily high at $0.2023. The market has a sharp decline to form a support of around $0.1950. At 08:15 UTC, the RSI dipped under 30, indicating oversold conditions and implying a possible reversal or at least a corrective bounce. When the Algorand support broke at 10:00 UTC, selling pressure picked up and was reinforced by a Death Cross on the MACD; this caused a sharp dip, lowest at $0.1909. Now, the ALGO price action is experiencing a brief consolidation phase, setting the stage for perhaps a recovery or continued weakness depending upon volume and breakout confirmation.
Chart 2: ALGO/USDT M5 Chart, Analysed by vallijat007, published on TradingView, May 7, 2025
Algorand marked the high for the day at $0.2023, and the price dropped to the downside, marking the support area at the level of $0.1950. In the meantime, at 08:15 UTC, the RSI dropped below the level of 30, indicating oversold market conditions and suggesting a potential reversal or at least a short-term pullback.
The support area broke to the downside at 10:00 UTC, supported by a Death Cross of the MACD. This bearish signal led to a sharp price spike to the downside, marking the low for the day at $0.1909. Following the drop, price action stabilized and formed a small range. This range broke out to the upside at 14:00 UTC, supported by a Golden Cross of the MACD. The ALGO price spiked upward but failed to establish a sustained trend or form a new channel structure. Instead, a new support area formed at the $0.1915 level, which acted as a key pivot later in the session.
Can $0.1915 Support Withstand Another Push?
At 21:35 UTC, the Algorand price again visited Algorand support at $0.1915 and bounced sharply with a spike into the initiation of the ascending channel. In this ascending move, the channel would not have been able to rise above resistance at $0.2020. That upside channel reversal eventually occurred on the downside at 01:55 UTC, again supported by the Death Cross of MACD.
If this downside breakout sustains, Algorand could retest $0.1915 support. If it fails to sustain, the Algorand price may even go down to test the recent lows at about $0.1900. Essentially, these two levels, at $0.1915 support and $0.2020 resistance, will be crucial. Breaking beyond either one decisively could set the level of directional bias for the next move of Algorand. Until we witness a strong and confident volume-backing break of either level, the asset might just continue to consolidate in choppy, range-bound price action.
ALGO Squeezed in Tight Range: 0.1915 vs 0.2020
Presently, the Algorand price traded with tight consolidation bands between $0.1915 and $0.2020, both being vital support-resistance zones. A breakdown below $0.1915 could cause a retest at $0.1900 lows, whereas breakouts to the upside beyond $0.2020 will allow testing of the recent highs. The MACD and RSI continue to conflate, indicating indecision and a wait-and-see attitude within the markets. Traders should wait for clear confirmation of the breakout before positioning; until then, the range-bound price action with short-term volatility will continue.
About The Author
