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  • The ALGO price has confounded all market expectations and has sailed over the $2 mark
  • More upside is expected as the cryptocurrency market continues to recover
  • After Tuesday’s crash, some coins actually increased substantially, with ALGO one of these select few.

The ALGO price has gone through the roof over the past 24 hours with an almost 70% gain overall to just over the $2 level. At one point, ALGORAND even reached the $2.15 mark and is expected to continue rising as positive sentiment continues to surround this coin.

Bullish sentiment exploded on the ALGO price exploded on Wednesday as the broader cryptocurrency market was still licking its wounds. There does not seem to be a logical explanation for this massive rise in Algorand but investors have surely taken a liking to the coin. ALGO has soared up the crypto rankings with this 80% rise in price.

Although the continued spectre of increased regulation continues to haunt the broader crypto markets, this does not seem to have created any worries for the ALGO price. Whether FUD will impact it short term is another matter altogether.

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Short Term Prediction For Algo Price: More Upside Expected Although Pullbacks Remain a Possibility

ALGO price

The Algo price is expected to continue appreciating in the short term as investor sentiment around the coin continues to brighten. There can obviously be some small pullbacks along the way but the momentum of Algorand seems quite assured.

If the bullish scenario continues to persist, then the ALGO price will probably rise to around $2.15 where it should encounter considerable resistance and has also been rejected at this point. If that level is overcome, then the $2.30 price point will probably be the next stop on the cards. All depends on the momentum in the market.

If a bearish thesis were to come into play, the ALGO price would probably experience a steep drop to the $1.70 level where strong support lines have formed. This crash is unlikely to happen however with current sentiment in the market for ALGO at a considerable high.

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Long Term Price Prediction For Algorand: Bullish and racing to more ATH’s

The ALGO price is expected to continue rising slowly but surely after having reached the $2 milestone which is an important price level. Algorand bucked the trend over the past couple of days as other larger cryptocurrencies experienced considerable double-digit drops.

It looks like the continued spectre of increased crypto regulation will not be affecting the Algorand, rather the other way round. A price of between $3 and $4 by the end of the year is not an overtly optimistic scenario after all.

Where to Buy ALGO

If you want to purchase Algorand, you can do so on the following exchanges:
eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
Binance
The other platform where you can buy Algorand is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

Looking to buy or trade Algorand now? Invest at eToro!

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