Convergence

bullish

Algorand

Story

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  <h3 class="wp-block-heading the-subtitle" id="story-highlights">Story Highlights</h3>  
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   <li>The ALGO price soared ~320% in November and recorded a multi-year high.</li>  
   <li>The technical indicators record increased bullish sentiment, hinting at a higher price target.</li>  
   <li>A sustained bullish rally could push the price toward its upper price target of $0.60.</li> 
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  <p>The Algorand price has displayed a massive price action by outperforming the top crypto tokens of this industry. Moreover, with increased volatility, this altcoin is on the path of achieving a new high.</p>  
  <p>Will the ALGO price maintain its price sentiment and record a 2X rally this month? Or will this altcoin experience a major price correction? In this article, we have covered the Algorand price analysis to answer your questions.</p>  
  <h2 class="wp-block-heading" id="h-algo-price-retests-its-multi-month-high">ALGO Price Retests Its Multi-month High!</h2>  
  <p>Despite recording a drop of ~3% in 24 hours, the Algorand token has surged 74.73% in the last seven days and 319.65% during the last 30 days. Moreover, with a market cap of $3.988 billion, it has secured the 36th position in the cryptocurrency list.</p>  
  <figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/02193624/Algorand-Price-Analysis-02nd-December-2024-1024x541.webp" alt="ALGO Price Retests Its Multi-month High!" class="wp-image-388114">
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    TradingView: ALGO/USDT
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  <p>The Moving Average Convergence Divergence (MACD) displays a constant rise in the daily green histogram. On the other hand, its averages show a significant uptrend. This suggests that the price of Algorand may continue rising this week.</p>  
  <p>Furthermore, the EMA 50/200-day has experienced a Golden Cross during the second half of November, highlighting an increase in the bullish price action.</p>  
  <h2 class="wp-block-heading" id="h-will-algo-price-hit-1">Will ALGO Price Hit $1?</h2>  
  <p>If the market favors the bulls, the Algorand price may retest its resistance level of $0.50. Moreover, if the bulls dominate the cryptocurrency market, this altcoin could prepare to retest its upper price target of $0.60.</p>  
  <p>On the flip side, if a trend reversal occurs, the ALGO price may retest its support level of $0.40. Further, if the bears outrun the bulls, this altcoin could plunge toward its low of $0.33 this month.</p>  
  <p>Concerned about the long-term price prospects of this crypto token? Read CoinPedia’s <a href="https://coinpedia.org/price-prediction/algorand-algo-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Algorand Price Prediction</a> and subscribe to us for the latest news of the crypto world!</p>  
  <h2 class="wp-block-heading" id="h-faqs">FAQs</h2>  
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   <div class="schema-faq-section" id="faq-question-1733148250166"><strong class="schema-faq-question"><strong>What is the future of Algorand?</strong></strong>
    <p class="schema-faq-answer">If the bullish sentiment sustains, this altcoin may reach a maximum of $1 in 2025.</p>
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   <div class="schema-faq-section" id="faq-question-1733148250909"><strong class="schema-faq-question"><strong>When was ALGO all-time high?</strong></strong>
    <p class="schema-faq-answer">The ATH of Algorand was $3.28 and was recorded on 21st June 2019.</p>
   </div>
   <div class="schema-faq-section" id="faq-question-1733148251594"><strong class="schema-faq-question"><strong>Is Algorand crypto a good investment?</strong></strong>
    <p class="schema-faq-answer">With bullish price action, this cryptocurrency may record an annual high of ~$7 by 2030.</p>
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Algorand Price Analysis: Can ALGO Price Hit $1 Amid Breakout Rally?

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