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Just after buyers recorded a big win in the past trading session. The current session at the time of writing stays in favor of the buyers. Consequently, this has significantly pushed the price of Algorand significantly higher.
Algorand Forecast Statistics Data:
ALGO’s current price: is $0.3389
ALGO market cap: $2.30 billion
ALGO circulating supply: 6.94 billion
Algorand’s total supply: 7.34 billion
Algorand’s Coinmarketcap ranking: #29
Major price Marks:
Resistance: $0.3389, $0.3400, $0.3600
Support: $0.3285, $.3220, $0.3127
Algorand Market Seeks to Break Higher Resistance, Invest in Tamadoge Today
On the ALGO/USD daily chart, price action is hopeful of further upward movement, going by readings from trading indicators. The Exponential MA curves are below the last big bullish candle. Additionally, these lines have just crossed each other. Furthermore, the Stochastic RSI indicator curves are just at the level of 69% and roughly 57%. Combining the RSI and EMA reading, these signs are pointing to further price increases in this market. As a result, traders in this market can expect the price to retrace near the resistance of $0.3600.
Price Analysis for Algorand: ALGO/USD Sellers Are Becoming Active
Looking at the ALGO/USD 4-hour price chart, one could easily see that some Selling activities have commenced in this market. Consequently, this has caused Algorand’s price to take a few steps to the downside. Despite this, the EMA lines are still under price movements. Therefore, this maintains the likelihood of price retracing higher price levels.
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In addition, we can perceive a minor downward correction in the direction of the RSI indicator. Consequently, this reflects the selling activities that have gone on in this market. Nevertheless, these lines are still in the overbought region, also it looks on the verge of indicating an upside recovery as it now stands at roughly 88% and 86% faster to slower line respectively. Consequently, traders can still hold on in this market, as the price may rise further from this level.
The final days of the Tamadoge (TAMA) presale this weekend were marked by large FOMO buys worth upwards of $80,000 in Ethereum. The Tamadoge token presale hit its target of 19 million USDT on Sunday, a hard cap that Jacob noted on YouTube was higher than the 2014 Ethereum ICO and the 2022 STEPN ICO. The presale ran for just under eight weeks from July 25 to September 18 – making it one of the most successful crypto presales of this year alongside Battle Infinity, which we also reviewed, another play-to-earn crypto token that rose in value by several hundred percent at its IDO. The large whale buys this weekend could indicate that TAMA will also perform well on launch day. Tamadoge was featured on CNBC last week as having high potential with its deflationary tokenomics and similarity to popular video games. The listing price of Tamadoge will be $0.03, and its maximum supply 2 billion tokens.
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