Algorand (ALGO) holds the 33rd position on CoinGecko right now. ALGO price prediction 2022 is explained below with a weekly time frame.
The above chart of Algorand (ALGO) laid out the falling wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal.
This pattern indicates a breakout in the price trend towards an upswing. From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Currently, Algorand (ALGO) is in the range of $0.3545. If the pattern continues, the price of ALGO might reach the resistance levels of $0.9855, and $2.5450. If the trend reverses, then the price of ALGO may fall to $0.2755.
Algorand (ALGO) Support and Resistance Levels
The chart below shows the support and resistance levels of Algorand (ALGO).
From the above daily time frame, it is clear the following are the resistance and support levels of ALGO.
Resistance Level 1 $0.3631
Resistance Level 2 $0.7565
Resistance Level 3 $1.4060
Resistance Level 4 $3.0360
Support Level $0.2035
ALGO Resistance & Support Level
The charts show that Algorand (ALGO) has performed a bullish trend over the past month. If this trend continues, ALGO might run along with the bulls overtaking its resistance level at $3.0350.
Accordingly, if the investors turn against crypto, the price of Algorand (ALGO) might plummet to almost $0.2035, a bearish signal.
Comparison of ALGO with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Algorand (ALGO).
From the above chart, we can interpret ETH, BTC, and ALGO are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ALGO also increase or decrease respectively.
The above chart of Algorand (ALGO) laid out the falling wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal.
This pattern indicates a breakout in the price trend towards an upswing. From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Currently, Algorand (ALGO) is in the range of $0.3545. If the pattern continues, the price of ALGO might reach the resistance levels of $0.9855, and $2.5450. If the trend reverses, then the price of ALGO may fall to $0.2755.
Algorand (ALGO) Support and Resistance Levels
The chart below shows the support and resistance levels of Algorand (ALGO).
From the above daily time frame, it is clear the following are the resistance and support levels of ALGO.
Resistance Level 1 $0.3631
Resistance Level 2 $0.7565
Resistance Level 3 $1.4060
Resistance Level 4 $3.0360
Support Level $0.2035
ALGO Resistance & Support Level
The charts show that Algorand (ALGO) has performed a bullish trend over the past month. If this trend continues, ALGO might run along with the bulls overtaking its resistance level at $3.0350.
Accordingly, if the investors turn against crypto, the price of Algorand (ALGO) might plummet to almost $0.2035, a bearish signal.
Comparison of ALGO with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Algorand (ALGO).
From the above chart, we can interpret ETH, BTC, and ALGO are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ALGO also increase or decrease respectively.
