13.9 C
Ottawa
Sunday, September 25, 2022
HomeAnalysisAlgorand price analysis: Bullish upstream results in price climbing to $0.354

Algorand price analysis: Bullish upstream results in price climbing to $0.354

The latest Algorand price analysis confirms that a bullish trend has dominated the charts for the past few days. Price gains have also been observed in the last 24 hours, which is very encouraging for buyers. . The price has climbed to his $0.354 level as the bulls have successfully maintained his 19/09/2022 uptrend line. The price also fell on Sept. 18, as the last strong correction was observed on that particular day. A continued bullish trend then dominated the market and today the trend is bullish again.

ALGO/USD Daily Price Chart: ALGO Gains 10% Overnight

The Algorand Price Analysis 1-day price chart shows that the price is on the rise today as the ALGO/USD pair is trading at $0.354 at the time of writing. ALGO/USD gained 10.31% in value over the last 24 hours. ALGO reports a 17.03% gain over the past week on bullish momentum. Volume is still high, up 34.9%, and market cap is up 10.33% in the last 24 hours.

ALGO/USD 1-day price chart.Source: Trading View

The moving average (MA) value on the daily chart is in the $0.315 range. At the same time, the Bollinger Bands average is holding at his $0.312, but the top of the Bollinger Bands has reached $0.345, the price is well above the top band, and the bottom of the Bollinger Bands is at $0.279. has reached The Relative Strength Index (RSI) score has improved to an index of 63, approaching the overbought limit with continued buying activity.

Algorand price analysis: recent developments and further technical indications

A four-hour Algorand price analysis shows signs of a solid bullish trend as the price has risen significantly. Having been in the lead, the trend has reversed in favor of the bulls. Nevertheless, an upward trend has been seen over the past four hours as the price climbed to $0.360 and then to $0.354 levels. The moving average value is $0.329 on the hourly chart.

Argo 4f
ALGO/USD 4-hour price chart.Source: Trading View

The volatility is relatively high, with the upper Bollinger Bands on the 4-hour chart also at $0.354 and the lower Bollinger Bands at $0.298. Although the RSI score is in the neutral zone, it curves upwards at index 68, fairly close to the overbought limit, indicating buying activity in the market.

Conclusion of the Algorand price analysis

Algorand’s 1-day and 4-hour price analysis shows that the market is following a daily uptrend. The price has improved significantly and is now at $0.354, above the volatility indicator’s cap, so another correction may be on the horizon. However, we expect ALGO to continue its upward movement today.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

RELATED ARTICLES

Most Popular