The Algorand price prediction shows that ALGO could be ready for the uptrend as the trades near $0.40 resistance today.
Algorand Prediction Statistics Data:
- Algorand price now – $0.36
- Algorand market cap – $2.52 billion
- Algorand circulating supply – 6.93 billion
- Algorand total supply – 7.3 billion
- Algorand Coinmarketcap ranking – #28
Resistance levels: $0.42, $0.44, $0.46
Support levels: $0.30, $0.28, $0.26
ALGO/USD is likely to cross above the resistance level of $0.40 to increase the bullish movement. Meanwhile, the cryptocurrency might kick-start another bullish run back above the $0.38 level if the market price crosses and stays above the upper boundary of the channel. Consequently, any additional positive break to the upside is needed for the coin to press higher. Nevertheless, Algorand (ALGO) has to break beyond $40 before hitting the $0.42 resistance level.
Algorand (ALGO) May Gain More Upsides; Tamadoge (TAMA) Trades Positively
Looking at the daily chart, the Algorand price is currently above the 9-day and 21-day moving averages. If the buyers continue to grind higher, the first resistance level may be located at $0.38 as this could also be followed by $0.40. However, additional resistance levels may also be found at $0.42, $0.44, and $0.46 respectively. On the other side, if the Algorand price heads toward the lower boundary of the channel, it could hit the first support level at $0.32.
However, sliding below the lower boundary of the channel may lead the coin to the critical support levels at $0.30, $0.28, and $0.26. The technical indicator Relative Strength Index (14) is moving to cross into the overbought region, which indicates that buyers may begin to gain control of the market, and this, could also mean that ALGO/USD could be pushing towards the resistance level of $0.42 soon.
When compares with Bitcoin, the daily chart shows that the Algorand price is attempting to cross above the upper boundary of the channel. As soon as the price stables above this barrier, there is a possibility that additional gains could be obtained. Therefore, the next resistance level is close to the 2000 SAT level. If the price keeps rising, it could even break the 2300 SAT and above.
However, if the bears regroup and stay below the moving averages, 1800 SAT support may play out before rolling to the critical support at 1600 SAT and below. Meanwhile, the Relative Strength Index (14) is within the overbought region, suggesting bullish movement.
Tamadoge, an ERC-20 token, will also have its initial DEX offering (IDO) on Uniswap. TAMA is set to list at $0.03. As the Tamadoge presale sold out earlier than expected, the team is reportedly moving forward with all TAMA crypto exchange listings to take place in the coming days.
Tamadoge – Play to Earn Meme Coin
- Earn TAMA in Battles With Doge Pets
- Capped Supply of 2 Bn, Token Burn
- Presale Raised $19 Million in Two Months
- Upcoming ICO on LBank, Uniswap
Image and article originally from insidebitcoins.com. Read the original article here.