Algorand (ALGO): How Does the Chart Look Saturday?

Saturday, November 26, 2022 10:17 AM | InvestorsObserver Analysts

Algorand receives an average long-term technical score of 62 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. ALGO currently holds a superior long-term technical analysis score than 62% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Algorand a 62 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Algorand!

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Trading Analysis

Algorand's price is -$0.0800000 (-23.51%) below its 100-day moving average price of $0.320000000 as its price at the moment sits at $0.240000000. Additionally, ALGO is $0.0200000 (-4740.26%) higher than its 52-week low price of $0.230000000 while -$1.80000000 (-477.70%) under its 52-week high of $2.040000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives ALGO an average long-term technical score of 62. Long-term trading movement of Algorand suggest that investors are neutral on the coin at the moment. Algorand has a total market value of $1,738,814,840.07 with an high average daily volume of $386,910,864.08 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, ALGO's volume is below its average with $52,372,011.05 exchanged in total.

Summary

Trading patterns over the last year for Algorand leads to the coin's an average long-term technical score of 62 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the coin. Click Here to get the full Report on Algorand (ALGO).