Algorand

Get Algorand (ALGO) latest news and information from trusted cryptocurrency sources.

Cosmos had finally managed to break over its immediate resistance of $36.94. Over the last 24 hours, the coin surged 9.6% and was trading at $38.34. It has been a relatively good month for both ATOM and ALGO.
For Algorand, too, this past week has brought in substantial recovery. Over the past week, ALGO registered a 10.8% gain. At press time, Algorand was trading for $1.77. The technical outlook remained positive for both the coins with sustained positive price action. Both Cosmos and Algorand could target growth of about 9%.
Cosmos/ATOM/USD Four Hour Chart

ATOM was trading within an ascending channel, securing higher highs in the past week. At press time, the coin was seen trading outside the channel. ATOM hadn’t gone past the $36.91 mark in almost two months. However, in the last 24 hours, the coin was seen trading above that price mark.
Overhead resistance for the coin was at $40.78, while the support level for the coin rested at $25.45 and then at $20.93. Near term, technicals displayed bullish sentiments with buying strength mounting in the market at the time of writing.
The Relative Strength Index was again seen near the overbought zone. The indicator had touched that level a couple of times the past month, with the reading indicating growth in buying volume.
The Awesome Oscillator displayed green histograms at the time of writing as the coin’s prices were positive with the significant gains it posted over the last 24 hours. MACD underwent a bullish crossover, after which the indicator displayed green histograms.
ALGO/USD Four Hour Chart

Algorand was priced at $1.77 with a price ceiling at $1.95. On the reverse, ALGO’s price floor stood at $1.62, and the coin had secured robust support at the $1.44 price level. Although ALGO mostly displayed trading within an immediate resistance and price floor, it registered significant gains. In the past 24 hours, the coin rose 8.4%.
On the four-hour chart, the ALGO price positioned above the 20-SMA line, signifying that buyers had taken over the price momentum in the market at the current moment. Other indicators, too, corresponded with the reading above.
On Balance Volume had spiked massively in November, displaying that there was a steep growth in buying volume in prices. At press time, OBV was bullish, and buying volume was high, as the indicator suggested.
The Relative Strength Index was above the half-line corresponding to the buying strength in the market. With continued buying strength, ALGO also could attempt to trade above its immediate resistance, which would bring in a 7% growth in its ROI over the coming trading sessions.
The post Price Analysis: Cosmos Secures Multi-Week High While Algorand Eyes A 9% Hike appeared first on CoinGape.


Cosmos had finally managed to break over its immediate resistance of $36.94. Over the last 24 hours, the coin surged 9.6% and was trading at $38.34. It has been a relatively good month for both ATOM and ALGO. For Algorand, too, this past week has brought in substantial recovery. Over the past wee...

coingape.com

Price Analysis: Cosmos Secures Multi-Week High While Algorand Eyes A 9% Hike

Bitcoin’s positive price action attracted buyers, and altcoins reacted favorably. Algorand and GALA had lost considerable value in the last week. However, during the previous 24 hours, ALGO and GALA recovered considerably.
Algorand and GALA had gained 6% and 6.7% at press time, respectively. Most altcoins today have reacted positively to Bitcoin’s upward jump.
Algorand/USD Four-Hour Chart

Algorand was trading at $1.34 with immediate resistance at $1.45. Although ALGO traded northwards, it was trading too close to its robust support level of $1.12. After trading within the downward channel for the last two weeks, the coin has finally seen appreciation owing to the strength of the broader market.
Technicals have pointed towards bullishness in the market. However, the coin was not completely immune from a bearish turn.
The Relative Strength Index made a recovery from the oversold zone as it neared its mid-line. Buying strength shot up as ALGO brought in gains in the last 24 hours. The Directional Movement Index was bullish as the +DI line crossed above the -DI line. The Average Directional Index has pointed towards a trend weakening, indicating that a price reversal could occur over the upcoming trading session.
GALA/USD Four-Hour Chart

 
GALA was trading at $0.440 and broke above the descending channel that it had been trading within for the last two weeks. GALA’s price movement has been quite consistent, considering how prices had plummeted right after the coin secured its ATH just last month.
Immediate resistance for the coin was at the $0.545 level and local support levels extended from $0.412 to $0.360. Contrastingly, the coin’s prices were seen above the 20-SMA line, a reading that meant sellers were the price-makers of the market.
The Relative Strength Index reflected that although GALA’s price action remained consistent, the coin failed to register the investor’s and buyer’s confidence as the indicator mostly hovered below the half-line. RSI at press time, however, tried to make an uptick which meant that buyers were entering the market even though sellers primarily continued to dominate the market.
On Balance Volume, on the other side, preferred the bulls, which also signaled increased buying strength. This could also mean that the prices of GALA might witness a reversal.
The post Algorand And Gala Price Analysis: Coins Break On The Upside After A Week Of Rocky Trading appeared first on CoinGape.


Bitcoin&#8217;s positive price action attracted buyers, and altcoins reacted favorably. Algorand and GALA had lost considerable value in the last week. However, during the previous 24 hours, ALGO and GALA recovered considerably. Algorand and GALA had gained 6% and 6.7% at press time, respectively...

Algorand And Gala Price Analysis: Coins Break On The Upside After A Week Of Rocky Trading

Bitcoin’s prices have lurched over the past few days; BTC was consistently moving downhill after touching the $50k mark. As the asset lost over 3% value in the last 24 hours, the industry’s major altcoins have staggered too.
Additionally, the fear index noted ‘extreme fear’ readings highlighting a period of massive sell-off across cryptocurrencies. Decentraland, The Sandbox, and Algorand depreciated considerably and was trading lower than 7% since yesterday.
MANA/USD Four Hour Chart

Decentraland had been displaying bearish sentiments since the end of November. MANA was trading on a diligent downward channel. Over a week, it has formed a descending triangle that justified a bearish push in the market.
At press time, the coin was available for $3.12 with an immediate price ceiling of $4.62, and local support rested at $2.54. The coin’s price was seen below the 20-SMA line, indicating that selling pressure took over the market.
The Relative Strength Index struggled to remain afloat over the half-line, but the indicator fell into the negative zone as sellers resurfaced. MACD indicated a strong bearish move after the indicator witnessed a bearish crossover and displayed red histograms at press time.
SAND/USD Four Hour Chart

SAND fell by 7.8% over the last 24 hours. Ever since the coin experienced the massive pullback from the 78.6% Fibonacci level, it has been steadily declining. At the time of writing, the coin was priced at $4.81.
SAND’s price fell below the 20-SMA signaling at a continued bearish run. Immediate resistance for the coin was at 23.6% Fibonacci level at $5.66. On the flip side, the price floor region awaited the coin at $4.02.
The Relative Strength Index seemed to weaken as the coin fell below the half-line into the negative zone, selling pressure mounted in the last 24 hours. The Directional Movement Index preferred the bears as the -DI line crossed over the +DI line indicating an undeniable bearish bias at writing.
ALGO/USD Four Hour Chart

Algorand’s performance has been quite loose as the coin’s price action moved tightly between the descending channel over the past week and a half. Over the last day itself, ALGO brought a loss of 7.2% and was trading at $1.26. A fall from the current level would push ALGO to trade near the $1.19 level, which the coin hasn’t fallen beneath ever since September of this year.
The bulls have snapped the price action, reflecting on the Relative Strength Index as the indicator barely saw the light this month. Sellers have driven the price momentum and continued to do so even at press time.
On Balance, Volume was seen dipping as selling pressure heightened. Awesome Oscillator also flashed bearish readings as the imminent sell-off couldn’t be stalled.
The post Price Analysis: MANA, The Sandbox and Algorand Lose Momentum, Decline 7% appeared first on CoinGape.


Bitcoin&#8217;s prices have lurched over the past few days; BTC was consistently moving downhill after touching the $50k mark. As the asset lost over 3% value in the last 24 hours, the industry&#8217;s major altcoins have staggered too. Additionally, the fear index noted &#8216;extreme fear&#8217...

Price Analysis: MANA, The Sandbox and Algorand Lose Momentum, Decline 7%

XRP, Algorand, and Terra have all pointed towards downward price movement, following broader market movements. XRP and Algorand have projected downward-channel price movement over the last multiple weeks. The technical outlook projected a near-term bearish inclination. XRP’s price has diligently rejected the bulls since mid-November, and at press time, the coin was trading for $0.805 after recording a 2.6% fall over the last 24 hours.
The coin was seen trading close to its 5-month long-standing support line of $0.795, and a further bearish push will make XRP trade near the $0.528 price level. Immediate resistance of the coin stood at $1.05 and then at $1.28. XRP’s technical have highlighted that the coin has been performing loosely.

XRP/USD One-Day Chart
On the chart, XRP’s price stood below the 20-SMA line, which has acted as a solid resistance mark for the altcoin. Since the bears have been stronger in the past trading sessions, the coin could register a 42% fall.
The Relative Strength Index fell below the midline as buying pressure dipped steadily. Further, The Directional Movement Index hinted at bearish preference, and the ADX portrayed a strong directional trend. The Volume Oscillator also displayed low trading volume and a bearish price movement.
ALGO/USD One-Day Chart

Algorand’s price action also followed the market-wide trend as it depreciated on its chart. It was exchanging hands at $1.35. The immediate resistance was at $1.55, which served as solid support for four months. The substantial downfall in prices occurred as the coin encountered repeated sell-off periods. If bears continue to exert control, the next trading level for the coin stands at $1.27.
Algorand’s price remained consolidated between the descending channel.
In case of an upward price breakout, the coin can trade near the $1.55 level and then at the $1.85 price mark. The Relative Strength Index favored the bears after the coin displayed a continued downtrend. The Directional Movement Index encountered a bearish crossover and exhibited bearish force. Bollinger Bands expanded, which indicated signs of rising price volatility.
LUNA/USD One-Day Chart

Terra’s price has been on an uptrend, and at the time of writing, the coin traded for $63.64, which is 33% higher than the prices LUNA displayed last month. Immediate resistance for the coin stood at $74.88.
Although the coin showed a fall on its charts, the near-term technicals have still flashed positive price action. From the above chart, the coin found support on the $63.28 level.
The Relative Strength Index seemed to be positive, as the indicator was parked above the half-line, reflecting more buyers over sellers in the market. However, the Directional Movement Index displayed gravitation towards an adverse price action as the bears re-surfaced in the market.
Awesome Oscillator continued to exhibit amplified green signal bars. Terra’s price action cold invalidates the current bearish thesis if the coin manages to sustain itself over the $63.64 mark.
The post XRP, Algorand and Terra: Broader Market Sentiments Turn These Coins Bearish appeared first on CoinGape.


XRP, Algorand, and Terra have all pointed towards downward price movement, following broader market movements. XRP and Algorand have projected downward-channel price movement over the last multiple weeks. The technical outlook projected a near-term bearish inclination. XRP&#8217;s price has dilig...

XRP, Algorand and Terra: Broader Market Sentiments Turn These Coins Bearish

At the time of writing, the altcoin market was trading in the green owing to the king coin’s upward climb over the last 24 hours. Matic happened to be one of the top gainers, it had secured a staggering 30.1% increase over the past day. The altcoin has galloped and hit a multi-month high after the crash that occurred on December 4 while the bulls could attempt to revisit the all-time high. At the time of writing, MATIC was priced at $2.34 with an overhead resistance at $2.44.
MATIC Price Analysis

Technicals for MATIC remained positive in correspondence to the surge in prices, the altcoin had lost almost 34% of its value post the crash and now it has propelled to make up for most of it. The buying strength has also shown recovery since December 4.
Awesome Oscillator also flashed green signals, which indicated bullishness in the market and another upswing could cause the token to break past its $2.44 resistance at touch its all-time high. MACD underwent a bullish crossover and pointed towards positive price action.
Relative Strength Index was above the half-line as buying pressure recovered, however, the indicator displayed a downtick which might signal towards a price reversal. Incase of which, the coin might find support on $2.06 and then at $1.85. Other support lines rest at $1.76, $1.55 and $1.49.
Chainlink Price Analysis

It has been a bearish run for Chainlink over the past week, much to its relief, the coin surged 13% over the last 24 hours. The outlook for the altcoin also displayed recovery on its 4-hour chart by registering positive buying strength. AT the time of writing, the coin was trading at $20.19 with its overhead resistance at $23.21. Other price ceilings rested at $33.16 and then at its multi week high of $38.14.
MACD displayed a bullish crossover, indicating that the coin has recovered over the last 24 hours. Bollinger Bands converged heavily, indicating that prices might not show volatility over the immediate trading sessions, however, it could also indicate chances of a price reversal.
Relative Strength Index displayed increased buying strength, although the indicator was parked within the bearish zone. In case of a fall from the current price levels, the immediate support level was at $17.94.
Algorand Price Analysis

Algorand was trading for $1.76 and has finally exhibited considerable gain of 6% over the last 24 hours . For over a month the coin has been consolidated and the price action remained sandwiched between $2.23 and $1.60. Major resistance marks for ALGO was at $1.97 and $2.23. The technicals have indicated a recovery over the past 24 hours.
MACD underwent bullish crossover and pointed towards positive price action. Capital inflows have also recovered as indicated by the Chaikin Money Flow. In accordance with the same, Relative Strength Index also displayed positive buying pressure.
Incase the bulls drag down the prices down again, ALGO might meet with its $1.60 and $1.45 support levels. In recent news, Algorand’s TVL surpassed the $100 million mark.
The post MATIC, Chainlink and Algorand Price Analysis: 07 December appeared first on Coingape.


At the time of writing, the altcoin market was trading in the green owing to the king coin&#8217;s upward climb over the last 24 hours. Matic happened to be one of the top gainers, it had secured a staggering 30.1% increase over the past day. The altcoin has galloped and hit a multi-month high af...

MATIC, Chainlink and Algorand Price Analysis: 07 December

The ALGO coin maintains an overall bullish trend in its technical chart. The coin price has recently bounced back from crucial support of $1.56, and now with a double bottom pattern, it suggests a possible rally in the upcoming trading session. Watch out for these resistance levels in a long position.
Key technical points:

The ALGO price bounced back from the $1.56 support level
The ALGO price reclaims the 50-day EMA line
The intraday trading volume in the ALGO coin is $737.6 Million, indicating a 68.18% hike.


Source- ALGO/USD chart by Tradingview
The ALGO/USD chart displayed the price resonated in a rising channel pattern in the daily time frame. On November 16th, the coin price provided a decisive breakdown from its support trendline, indicating a great short opportunity for crypto traders.
Though the ALGO price provided a decent retest to the new resistance trendline, the coin couldn’t pass an important support level of $1.56, providing significant demand pressure below this level.
The Relative Strength Index(56) indicated an impressive recovery concerning the recent bullish reversal from the bottom support.
ALGO/USD 4-hour Time Frame Chart

Source- ALGO/USD chart by Tradingview
The ALGO coin showed a double bottom pattern in the 4-hour time frame chart. However, in addition to the neckline of the $1.56 mark, this coin will also be facing resistance from the ascending trendline, which was earlier providing good support in a parallel channel.
Furthermore, the price has already provided a breakout from these resistance levels, and if the price shows good sustainability above them, the crypto traders should get a good entry opportunity to go long. 
Moreover, the crypto trader can expect the next resistance level for the price at $2.1, followed by 2.28
 
The post Algorand Price Analysis: Can ALGO Price Initiate A New Rally With This Bullish Pattern? appeared first on Coingape.


The ALGO coin maintains an overall bullish trend in its technical chart. The coin price has recently bounced back from crucial support of $1.56, and now with a double bottom pattern, it suggests a possible rally in the upcoming trading session. Watch out for these resistance levels in a long posi...

Algorand Price Analysis: Can ALGO Price Initiate A New Rally With This Bullish Pattern?

Renowned Wall Street veteran Matt Zhang has reportedly launched a $1.5 billion venture capital (VC) firm named Hivemind Capital Partners, per Bloomberg reports. The VC was launched to help crypto-based startups, as well as blockchain projects who are invested in building the infrastructure of the crypto industry.
Hivemind Focused On Building Crypto Infrastructure
While announcing Hivemind earlier today, former Citi executive Matt Zhang discloses that the underlying strategy will be to use part of the funds to encourage crypto-based startups. Not only that, but it will also prioritize projects whose focus is on improving crypto infrastructure and building virtual worlds. Lastly, Zhang says the remaining part of the fund will also be used in trading digital assets.
Meanwhile, as part of the efforts towards achieving the primary aims and objectives of Hivemind, the VC has collaborated with Algorand — a proof-of-stake (PoS) protocol. Algorand is a big deal of a blockchain project. Ranking in number 21, its native ALGO token is valued at over $11.3 billion in total market capitalization, per Coinmarketcap data.
Venture Capital on The Rise
Meanwhile, something noteworthy in the crypto industry this year, is that venture capital has been high on the rise, with promising startups seeing funds to the tune of billions of dollars.
And with this $1.5 billion raised, Zhang’s Hivemind joins the league of dozens of other unicorns — a term used to describe startups with a valuation of over a billion dollars. Recall that Coingape earlier reported about Silicon Valley venture firm Andreessen Horowitz launching a $2.2 billion crypto fund in June, which was the largest ever as at that time. However, investment firm Paradigm, surpassed the June funding when it announced its own $2.5 billion funds in November.
One thing is for sure, and as Zhang claims, blockchain technology gained with its collaboration with Algorand, will go a long way in providing entrepreneurs in the crypto business, with infrastructure support that is not presently available.
The post Hivemind Launches $1.5 Billion Venture Fund, Partners With Algorand appeared first on Coingape.


Renowned Wall Street veteran Matt Zhang has reportedly launched a $1.5 billion venture capital (VC) firm named Hivemind Capital Partners, per Bloomberg reports. The VC was launched to help crypto-based startups, as well as blockchain projects who are invested in building the infrastructure of the...

Algorand (ALGO)

Algorand News