Over the course of Saturday, the broad crypto market gave back the price gains. By early afternoon, the digital currency market is still up around 1.5%. One of the biggest winners is top 25 coin Algorand (ALGO), which is up over 10% in the last 24 hours. This means that the price increases in the past week amount to around 30%. In the last two weeks, ALGO has even risen by around 40% – the starting position is bullish. In light of the upcoming Qatar World Cup, where Algorand acts as an official FIFA partner, further price increases seem possible. Should you still buy ALGO now and speculate on further price movement, or are these three crypto pre-sales a better choice? Our Algorand Price Prediction:
ALGO up 12%: successful breakout of month-long sideways range, surpassing SMA 200
In the last 24 hours, ALGO has traded between $0.384 and $0.448. At $0.437, the Algorand coin is currently trending towards the upper end of the trading range. With the 12% price jump, Algorand was able to successfully exit the month-long sideways range. At the same time, the SMA 200 was crossed over the past few days, generating another buy signal. The current upward movement extends over the last few days – currently you can see eight green candles in a row in Algorand’s daily chart. In addition, the volume increased continuously. The current breakout may prove to be sustainable and unlock further upside potential.
Algorand Price Forecast: ALGO Strongly Overbought, Now Profit?
Algorand was traded with a high volume in the last 24 hours. CoinMarketCap gives the volume as currently around $530 million, thus an increase of 70%.
Nevertheless, the current Algorand price forecast also reveals dangers. Because the RSI has been above 80 since the last pump and thus indicates a heavily overbought condition on a daily basis. The Algorand price could thus initially retreat to $0.40. The upper limit of the sideways channel also runs at the psychologically important price mark.
FIFA World Cup 2022 in Qatar as host: Thanks to this partnership, can ALGO pump to $1?
In 15 days, the football World Cup starts in Qatar – the football event of the year, although this year’s World Cup will probably be perceived a little differently. For the first time, the Winter World Cup in history is accompanied by massive criticism of the host. Nevertheless, football fans will follow the World Cup, whether a boycott will really have a noticeable effect is still doubtful. With ALGO, the coin from the blockchain, which acts as an official partner of FIFA, is currently pumping. The fundamental momentum should certainly speak in ALGO’s favor in the coming weeks.
Already in May this year, FIFA announced a collaboration with Algorand. Blockchain supports the wallet solution from the world football organization. At the same time, the company is also involved in the strategy of digital assets to market the WC in a modern way. In particular, the FIFAPlusCollect project has probably become known here. For further development steps, Algorand should remain the preferred partner for FIFA.
Currently, ALGO is trading at $0.44, still about 87% below the ATH, which reached $3.56 about three years ago. If the increasingly bullish sentiment across the crypto market continues, Algorand could predominantly see some form of WM momentum driving the price towards $1. The recent breakout of the sideways range promises hope for ALGO bulls.
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Three crypto pre-sales as an alternative: D2T, IMPT & RIA
Thanks to the soccer world cup, Algorand could become a cryptocurrency with strong bullish momentum in the next few weeks. Nevertheless, uncertainty remains. Anyone speculating on an above-average return can also take a look at new tokens currently in their presale and already developing bullish momentum here: D2T, IMPT & RIA.
Dash 2 Trade wants to become the Bloomberg terminal for cryptos. The innovative dashboard then provides multi-functional functions for investors to screen the markets, analyze on-chain data, receive trade signals or evaluate pre-sales. In about two weeks of presale, the native token D2T was able to collect five million dollars. The Dash 2 Trade Presale is currently in Phase 3.
Now to Dash 2 Trade
In just over a month of pre-sales, the capital raising for the new eco-friendly IMPT coin is over $12 million. Apparently, the sustainable concept is popular in the crypto world. Because IMPT.io wants to use blockchain technology to enable effective environmental protection. To this end, an innovative shopping platform with over 25,000 affiliated partners (including Amazon, Microsoft and Lego) will be launched, rewarding sustainable consumers with rewards while investing in climate protection projects. Furthermore, IMPT also integrates a blockchain-based emissions trading system to possibly use the market-based instrument for more environmental protection.
Now to IMPT.io
Another NFT trading card game, Calvaria, is currently enjoying strong momentum. The pre-sale is already in phase 4 and is characterized by significant price increases after each phase, so early investors can still achieve book profits of over 100% up to the IEO. The concept, which is based on a combination of free Web2 games and P2E variants, is also exciting to finally bring blockchain games to the mass market.
Now to RIA
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