{"id":467194,"date":"2023-12-20T22:10:09","date_gmt":"2023-12-20T22:10:09","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=467194"},"modified":"2024-01-04T15:38:39","modified_gmt":"2024-01-04T15:38:39","slug":"algorand-price-prediction-for-today-december-20-algo-technical-analysis","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/algorand-price-prediction-for-today-december-20-algo-technical-analysis","title":{"rendered":"Algorand Price Prediction for Today, December 20 \u2013 ALGO Technical Analysis"},"content":{"rendered":"
The Algorand price prediction shows that ALGO is changing hands at $0.20 as the market price moves to cross above the 9-day moving average.<\/p>\n
Key Levels:<\/p>\n
Resistance levels: $0.25, $0.27, $0.29<\/p>\n
Support levels: $0.15, $0.13, $0.11<\/p>\n ALGO\/USD<\/a> is currently trading around $0.20 and once it manages to surpass the potential resistance of $0.22, the next target could be located at $0.24 where it could trade above the upper boundary of the channel. However, a push from here could send the price straight to the uptrend as the daily low is spotted at the $0.19 support level. If the current level fails to hold strong, the Algorand (ALGO) could slip below the lower boundary of the channel.<\/p>\n Looking at the daily chart, the Algorand price<\/a> is likely to spike to the upside as the bulls are now coming back into the market. However, if the buyers can put more effort and push the market price toward the upper boundary of the channel, ALGO\/USD could hit the resistance levels of $0.15, $0.13, and $0.11 respectively. In addition, any bullish movement above these key resistance levels may likely encourage further buying.<\/p>\n Meanwhile, a break below the lower boundary of the channel may bring the coin toward the critical supports at $0.28, $0.26, and $0.24. Meanwhile, looking at the moving averages, Algorand may tend to follow an upward trend as the 9-day MA keeps hovering above the 21-day MA, suggesting that the market may head to the upside.<\/p>\nAlgorand Price Prediction: Is Algorand Ready for the Upside?<\/h2>\n
ALGO\/USD Bulls May Dominate the Market<\/h2>\n