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Algorand (ALGO) has been making waves in the cryptocurrency space lately, capturing the attention of traders and investors alike. With its strong performance on the charts, combined with increasing network activity and its innovative governance structure, ALGO is positioning itself as a major player in the market.
ALGO's near-term price action will be determined by a few key factors.
The cryptocurrency market has started to show signs of a recovery as Bitcoin's price strengthens, waking up altcoins that were previously suppressed under bearish pressure. Among the tokens gaining traction are Hedera (HBAR) and Algorand (ALGO), which have displayed considerable strength since the beginning of the year.
The crypto market has gotten off to a flying start to 2025, recovering from recent losses as investor optimism returns. Bitcoin (BTC) crossed $95,000, reaching an intraday high of $97,721 before registering a marginal drop and dropping to its current level of $96,712.
After a sluggish close for 2024, the crypto markets are trying hard to recover from the latest sluggish trend and as a result, the altcoins are trying hard to reclaim their dominance.
Algorand (ALGO) trading volume has spiked by 130% in the past 24 hours, pushing the token's price to $0.40. This rebound has brought 38% of ALGO holders into unrealized profits.
The following article is an op-ed by Laurent Benayoun, CEO of Acheron Trading. Algorithmic trading, or “algo trading”, has swiftly established itself within the financial landscape, particularly within the volatile, high-paced crypto market.
Latest updates on the coins ALGO, IVY, and Phantom.
As Bitcoin (BTC) continues to dominate headlines with its record-breaking surge, up 46% since November's election and 133% year-to-date, attention is shifting to altcoins that offer high potential at a lower price point.
Algorand (ALGO) has seen impressive growth in recent months, particularly with a substantial surge of over 250% in Q4 2024. Despite these gains, ALGO is still trading far below its all-time high of $3.28, suggesting that the coin remains undervalued and has significant potential for growth.
Santa Claus rally happened in the crypto industry as some big altcoins experienced double-digit gains. Pudgy Penguins (PENGU), the recently airdropped token, soared by 40% on Dec. 24, bringing its market cap to $2.26 billion.
As 2024 comes to a close, the cryptocurrency market remains a landscape of volatility and opportunity, drawing the focus of traders and investors alike. Amid widespread selloffs and a bearish outlook, a select group of altcoins is defying the odds, gaining momentum, and positioning themselves for significant milestones.
Spike in active addresses could be as a result of traders selling ALGO to minimize their losses during the dip.
Bitcoin (BTC) reached an all-time high for the second consecutive day, going past $108,000 and reaching a peak of $108,286. However, the cryptocurrency declined dramatically after reaching this level and is currently trading below $104,000, down almost 3% over the past 24 hours.
Algorand (ALGO) has declined 34% to reach a critical $0.40 support level, where it currently trades with decreased volume and momentum amid bearish technical indicators.
Bitcoin's (BTC) price hit another milestone on Tuesday, touching historic peaks above $107,000. While the Fear and Greed Index reads “Extreme Greed,” Ripple's XRP and Algorand (ALGO) attracted the attention of altcoin enthusiasts. Bitcoin breaks ATH records The leading crypto by market cap stirred the markets today after hitting the $107,780 all-time high.
Algorand's price has faced a sharp decline of 34%, dropping from $0.61 to a critical support level of $0.40. This steep correction came amidst a shift in the broader cryptocurrency market, triggered by Bitcoin's dominance reclaiming momentum and cooling off altcoin gains.
SuperTrend indicator flashed sell signal for ALGO on the 4-hour chart.
ALGO's Open Interest has been slowly trending lower, as has the spot CVD.
Algorand (ALGO) has recently witnessed a surge of 12.52% in the past 24 hours, bouncing back from a pullback earlier this week. This upward movement comes on the heels of a market correction that saw ALGO decline by 4.26% on the weekly charts.
Algorand has surged by 12. 52% over the past day after a weekly decline.
Bitcoin (BTC) reclaimed $100,000 after registering an increase of over 4% in the past 24 hours as the crypto market rallied following the release of the November inflation data. The world's largest cryptocurrency almost crossed $102,000 after reaching an intraday high of $101,819 before retreating to its current level.
Algorand's price stands at around $0.42, following a significant surge during Q4 of 2024, where it saw over 250% growth. Despite this surge, the ALGO coin is still far from its all-time high (ATH) of $3.28, a price it reached in 2019.
Hoskinson discussed the potential role of Cardano and other leading blockchain projects like Multiverse, Algorand, and Hedera in shaping the crypto policy landscape under the new U.S. administration.
