BTC$61 246.04


ETH$3 251.17




Binance Coin




USD Coin


Algorand Trading Sideways After Recovery

April 2020

Unfortunately for its holders, Algorand couldn’t escape the fate of the whole cryptocurrency market, which took a deep dive on the day that turned out to be the third biggest crash in its history. But this shouldn’t have come as a surprise for traders who have the knowledge of basic trading patterns. In that case, we have been witnessing the emergence of the head & shoulders reversal formation that had been building up for the duration of the last three months.

ALGO price action over the past ninety days

Certainly, no one could have anticipated such an extremely abrupt price degradation, which amounted to 65% in just two days, but the seasoned traders must have placed stop-losses wisely, which helped them avoid losing a big chunk of capital and even buy back substantially more ALGO once the price reached the all-time low at $0.105 on March 13, the second day of the crash.  

Those who weren’t foresighted enough are now forced to wait for the crisis to pass or devise trading strategies that could somehow help to cover the massive losses, at least partially.

But perhaps not a single strategy could be of any help to those who acquired ALGO in the first days after its listing on cryptocurrency exchanges, which happened in June 2019, when the price had leaped to it’s all-time high at $3.56, which is 96% from its current price of $0.153, as of the time of writing.

ALGO stands at the crossroads

After the two dark days of the market meltdown, Algorand followed the footsteps of other cryptocurrencies, which had made a partial recovery. When it came to ALGO, this recovery constituted around 20% - speaking in plain numbers, it went from the mentioned low at $0.105 to $0.1685 in a span of one day, whereupon it went into a tedious consolidation phase, trading in the range between $0.1288 and $0.1668.

1-day ALGO/USDT chart

All in all, we see a classic bearish flag formation on the daily time frame, which appears to be striving to resolve to the upside. This conclusion was made on the basis of Stochastic, which has finally made a bullish crossover and appears to be exiting the oversold region and passing the -25 line. Although one shouldn’t expect this move to be of a strong kind since the momentum oscillator has barely touched -0.2, while ATR is still at the extreme lows.

Therefore, if the upward move does occur, it shouldn’t take ALGO higher than the top of the upper shadow on a previous daily candle, which touched the level at $0.1894 that also served as firm support from September till December of 2019.

4-hour ALGO/USDT chart

The 4-hour time frame reveals that there’s also not much going on with ALGO apart from it closely approaching the 50-period EMA but ultimately failing to turn it into a support line, which could have given traders hope at the looming bullish phase.

But even if the breakout does occur, it is likely to stumble upon a tough resistance between $0.185 - $0.2 and then go bouncing off the 50 EMA. However, a piece of single news about the new wave of coronavirus pandemic could crash the price of ALGO, and all other cryptocurrencies, back to the all-time low, and beyond, in a matter of hours - that’s just the reality we are living in right now.

Author: Alex Paulson for


Algorand (ALGO): The Ominous Three Black Crows Threaten the Range
Algorand (ALGO): The Ominous Three Black Crows Threaten the Range
Algorand (ALGO): The Upgrade Expectations Pushed the Price to Year’s High
Algorand (ALGO): The Upgrade Expectations Pushed the Price to Year’s High
Algorand (ALGO) Stands Stock-Still In Front of Resistance
Algorand (ALGO) Stands Stock-Still In Front of Resistance
Algorand (ALGO) Price Prediction for 2020
Algorand (ALGO) Price Prediction for 2020
Algorand (ALGO) Price Prediction
Algorand (ALGO) Price Prediction

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 73.6% 48 $61 246.04 4.35% 8.24% $1 207 791 624 997 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 77.6% 46 $3 251.17 2.79% 9.85% $390 841 391 746 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $1.000228 0% 0.04% $112 492 586 189 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 74.8% 48 $543.37 2.69% 9.41% $80 192 402 418 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 83.6% 25 $148.00 5.58% 9.85% $68 679 439 753 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94% 1 $0.999891 -0.01% -0.01% $33 950 428 770 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 81.6% 29 $0.529085 -1.18% 24.39% $29 525 767 853 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 82% 27 $7.38 1.13% 2.82% $18 491 966 424 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 73.6% 54 $0.112941 1.11% 5.11% $16 389 621 588 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 78.8% 36 $0.436821 -0.38% 23.96% $15 673 589 601 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 78.4% 37 $0.137848 -1.93% 9.87% $12 009 843 432 TRX 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 74.4% 48 $26.30 2.07% 1.42% $10 373 109 265 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 76.4% 42 $0.000018 3.15% 11.44% $10 331 743 395 SHIB 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 94.4% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.