Algorand Price Prediction – Algorand Forecast 2021, 2022, 2025 & 2030

Fact Checked by Gary McFarlane

Although Bitcoin paved the way with blockchain technology, numerous other platforms utilize this methodology to develop innovative and valuable protocols. One of the most exciting blockchain platforms is Algorand, which rivals some of the leading companies within the cryptocurrency market.

This article presents our Algorand Price Prediction in detail. We’ll explore what Algorand is and how it works before highlighting where you can buy Algorand today – with 0% commissions!

algorand
algorand

Algorand (ALGO)

Price
$ 1.68

Algorand Price Prediction 2021 to 2022

Our Algorand stock forecast includes various types of analysis, ensuring that price projections are as accurate as possible. We will explore this forecast in detail throughout the article; however, if you are looking for a break rundown of our Algorand prediction 2021, the bullet points below will showcase our estimates for the upcoming months:

  • One Month – The broader crypto market is currently experiencing some negative momentum due to external factors. Because of this, our Algorand forecast estimates that the price could drop to the $1 level within the next month.
  • Three Months – If the $1 region holds as a strong support level, it will provide the foundation needed for a bullish surge. Our Algorand prediction has a price target of $2.5 within the next three months.
  • Start of 2022 – If Algorand can sustain some upward momentum, we’ll likely see the highs of September 2021 being breached. We estimate that Algorand could be valued at $3 by the beginning of 2022.

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Algorand Price History – the Story of 2021 So Faralgorand logo

If you are looking to invest in cryptocurrency and Algorand has caught your eye, then you’re in the right place! Algorand is an exciting and innovative platform that has the potential to shake up the entire cryptocurrency market. In this section, we’ll explain what Algorand is and how price reached this point.

The first thing to note is that Algorand is actually a blockchain platform that developers can use to create decentralized applications (dApps). In this sense, Algorand is similar to Ethereum (ETH) and Cardano (ADA), which are both platforms that can do a similar thing. Like these two platforms, Algorand has full support for smart contracts, which are self-executing and remove the intermediary from various processes.

Algorand was founded in 2017 by Silvio Micali, who has a very impressive reputation when it comes to computer science and cryptography. Silvio is an MIT professor and even won the Turing Award in 2012! In addition to Silvio, Algorand is being developed by a team of highly skilled cryptographers and mathematicians, meaning that the platform is in competent hands.

algorand blockchain

The Algorand blockchain has two layers. The first layer is for basic smart contracts and peer-to-peer transactions, whilst the second layer is used for advanced smart contracts – like those employed in decentralized finance (DeFi) apps. These layers ensure that Algorand can be used by anyone, regardless of their needs.

Finally, Algorand uses Proof of Stake (PoS) rather than Proof of Work (PoW) to validate blocks. This validation method uses much less power, making it a more environmentally-friendly option than BTC. Algorand also has lightning-quick transaction speeds and high scalability, putting the platform in a great position going forward.

algorand price chart

The Algorand price live fell dramatically after being listed in 2019, hitting a low of $0.16. Algorand then traded sideways for around a year and a half before some bullish momentum was showcased in January 2021. This resulted in a high of $1.85 in February 2021, which was then retested in April 2021.

Algorand gradually began decreasing over the following months before rocketing 268% between July 2021 and September 2021. An all-time high of $2.55 was reached before Algorand started to decline to today’s levels. The current Algorand price is hovering around the $1.70 level, although the momentum in the market could see the ALGO price head lower.

Algorand Price Forecast

Whether you’re looking to buy Bitcoin or any other digital coin, it’s vital to understand which factors can affect the price. Various things can affect a coin’s price, so understanding these factors can ensure you make an effective investment. With that in mind, let’s take a look at the factors that influence the Algorand price.

Technical Analysis

As you can see from the current price chart, the Algorand price today is experiencing some solid bearish momentum. The support level around $1.90 was broken aggressively, prompting a significant push downwards. At the time of writing, the Algorand price is testing the $1.70 area, which was formerly a strong resistance level.

algorand technical analysis

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The strength of the bearish momentum leads us to believe that price could break this level and proceed downwards over the short term. A downside target would likely be the $1 level, as this has proven to be a strong support area in the past. In addition, this area is also a strong psychological level due to it being a round number.

The good news is that the last time Algorand was around $1, the price rejected it and went on a strong bullish run. The hope is that if the price of ALGO was to fall to this area, a similar thing might occur. Due to the volatility, it’s hard to predict precisely what will happen next, so be patient and let the chart dictate what you do.

Fundamental Analysis

According to data gathered from CoinMarketCap, Algorand had a market cap of $4.3 billion at the time of writing. This makes Algorand the 18th largest crypto globally, with a trading volume of over $1 billion in the last 24 hours alone. These figures highlight the scale of Algorand’s platform – and it’s set to grow even bigger in the years to come.

With an incredible team of developers behind it, Algorand is well placed to benefit from the growth of decentralized applications in the future. There are already numerous dApps built on the Algorand platform, with more in the pipeline. The speed and scalability of Algorand’s network make them an attractive option for developers, especially compared to Ethereum’s. However, many investors are still opting to buy Ethereum in preparation for the release of Ethereum 2.0, which looks to solve many of the platform’s issues.

In the future, the proof of stake algorithm will mean that the Algorand ecosystem will be a more appealing option for environmentally-conscious investors – and even more so as the years go by. Combining this with the growing decentralized finance sector and Algorand’s possibilities within it, it’s clear to see why our Algorand forecast is so optimistic.

Algorand Price Prediction 2025 – Long Term Outlook

Although the price is currently going through a rough patch, our Algorand price prediction for the years ahead is still optimistic. The current bearish momentum is mainly due to contagion effects from Evergrande’s issues, which are affecting markets worldwide. Investors who buy stocks are also finding out that markets are down, so it’s a rough time for all asset types.

The good news is that these issues are not directly related to the crypto market. Thus, if China were to bail out Evergrande, it’s likely that we’ll see a rebound in many altcoins. This fact provides optimism to potential Algorand investors, as it highlights that the downwards moves on the price chart are essentially nothing to do with the Algorand platform.

algorand market cap

Right now, most people tend to buy Cardano if they wish to gain exposure to the growth of smart contracts – although Algorand provides a noteworthy alternative. One of the main reasons the ALGO token is not currently at Cardano’s level is that the company isn’t actively ‘hyping’ the network. In fact, the developers are simply working hard behind the scenes to improve Algorand, intending to let the platform do the talking in the years to come.

Due to this, our Algorand price prediction 2025 is encouraging. We believe that the Algorand platform will grow in stature as various industries move to a more decentralized way of doing things. Thus, we project that Algorand could be worth $5 by 2025.

algorand price prediction

Looking even further ahead, our Algorand price prediction 2030 is similarly optimistic. By this point, many enterprises will likely use smart contracts in one way or another, meaning platforms such as Algorand’s will be in high demand. Thus, our Algorand forecast sees the token valued at $8 by 2030.

Algorand Price Chart

Looking at the price chart, the eye is immediately drawn to the bearish daily candle that has broken the support level. As noted earlier, this bearish momentum is being experienced in the broader crypto market and not just with Algorand. Thus, the underlying analysis and fundamentals still hold.

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As you’ll be aware, the crypto markets are inherently volatile, meaning that moves such as today’s are often followed by bullish moves. Therefore, it’s crucial to have a long-term investment horizon with Algorand, as short-term movements can often wipe out profits easily.

Considering the token’s market cap, we can predict that ALGO has a huge future ahead of it. Price is currently ranging around $1.70, which is a drop in the ocean compared to numerous other cryptos. If Algorand can capitalize on the shift towards a more decentralized society, we will undoubtedly see some significant bullish moves in the months and years to come.

Where to Invest in Algorand

Finally, before you go and buy Algorand, it’s essential to research your options when it comes to trading platforms. The best trading platforms UK tend to offer Algorand as a tradeable asset because it is now a top 20 cryptocurrency. However, with so many brokers and cryptocurrency exchanges to choose from, you may feel overwhelmed trying to narrow down your options.

Not to worry! Through the research conducted for this Algorand prediction, we’ve found that eToro provide the best platform to buy Algorand. Firstly, eToro is a heavily regulated broker, meaning that users are protected with the strictest security policies. eToro is also covered under the FSCS, insuring you in the unlikely event that the platform goes bankrupt.

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eToro allows users to invest without paying any commissions, making them a very low-cost broker. The only thing to be aware of is the spread, which is the difference between the buy and sell prices on an asset. With cryptos, this spread can vary but tends to be at its tightest during peak trading hours.

Deposits with eToro only need to be a minimum of $50, which can be made via credit/debit card, bank transfer, or e-wallet. Various e-wallets, such as PayPal and Skrill, are accepted by eToro, making it very easy to fund your account. Notably, deposits are entirely free to make, and eToro also doesn’t charge any monthly account fees.

Finally, if you buy crypto with eToro, you’ll be able to use the platform’s free crypto wallet. This allows you to store your holdings safely and incorporates advanced encryption methods. In addition, you can even exchange one crypto for another within the wallet – meaning you don’t have to convert your holdings into USD and then back again!

Algorand Price Prediction – Conclusion

Overall, the future looks exceedingly bright for Algorand. Our Algorand prediction has highlighted how this platform functions and the potential that price has over the short term and long term. As you can imagine, the rise of smart contracts and DeFi applications will necessitate a need for blockchain platforms that can support them – meaning Algorand is well placed to benefit from this demand in the months and years to come.

So, if you’d like to invest in Algorand today, we’d recommend using eToro. eToro is one of the world’s most popular brokers, boasting over 20 million users globally. What’s more, eToro offers a 0% commission structure to traders and allows deposits from as little as $50!

 

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About Connor Brooke PRO INVESTOR

Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has extensive knowledge in the investing space, and has also written two theses on mutual funds and the UK market.