Algorand receives a strong long-term technical score of 72 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 72% 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’.
ALGO is currently $0.0000000 (-1.45%) below its 100-day moving average price of $0.330000000 with its current price of $0.320000000. Meanwhile, Algorand is $0.0500000 (-3861.06%) above its 52-week low price of $0.280000000 and -$2.51000000 (-341.91%) below its 52-week high of $2.830000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 72. Trends for the long-term trading history of Algorand suggest that traders are currently neutral on the coin.
Algorand has a market capitalization of $2,277,942,608.78 and a relatively high average daily volume with $416,142,718.89 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, ALGO’s volume is below its seven day average with 58,304,283.48 exchanged.
Trading patterns over the last year for Algorand leads to the coin’s a strong long-term technical score of 72 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the coin.
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