Algorand Price Prediction 2025: Double Bottom Pattern Signals Rally to $1 in Q1

Algorand sees a possible re-run to $0.6 levels in Jan 2025 and could attempt to cross $1 by March 2025.
crypto, bulls, crypto market
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Key Insights:

  • A key breakout in Algorand has led to a surge in its price, up by 20% today.

  • A long-term breakout has also occurred on weekly charts that signal a price target of $1.

  • The blockchain has the best quantum proofing among major chains and beats Ethereum, Cardano, XRP, and Solana.

  • Algorand is reportedly in talks with Cardano and Polkadot about exploring cross-chain partnerships.

As the market moved on to the near year, we saw a rejuvenation in most cryptos. In the last couple of weeks, most major cryptos corrected up to 50% after the US Federal Reserve issued policy rate guidance.

After consolidating from its 2024 highs, Algorand has formed a double-bottom pattern on weekly charts. A double-bottom pattern is highly bullish and mostly leads to massive gains in the near term. Further, this pattern shows that there could be a massive breakout soon in AGLO.

Taking a closer look at the daily charts, we see yet another bullish breakout. ALGO-USDT charts from Tradingview show that Algorand has seen a breakout from its descending triangle pattern on the daily charts. The breakout happened with $0.32 as the support zone and $0.6 as the imminent target. After $0.6, the chart indicates that ALGO may climb above $1 in the next few weeks.

Algorand Descending Triangle Breakout in 2025

Algorand Descending Triangle Breakout in 2025

Tradingview

These two confirmations are enough to set Algorand on a bull rally course. We had predicted also earlier that Algorand could easily establish itself as a top Layer-1 chain because of its strong fundamentals.

At press time, Algorand was up by 20% and traded at a price of $0.4. The 24 hour trading volume for ALGO was $470 million.

Expert Analyst Echoes Similar Analysis on Algorand

Earlier on Voice of Crypto, we had analyzed Algorand on its fundamental factors. It was clearly established that the blockchain is far superior in terms of quantum-proofing and beats all major Layer-2 chains in terms of cost and security. All of these together make Algorand the strongest contender among Layer-1 and Layer-2 chains.

The current woes of Algorand can be attributed to the SEC's decision to pursue a case against it. The outgoing SEC chief Gary Gensler had called Algorand and several other cryptocurrencies as security after bitterly losing the XRP case.

Crypto analyst Ali too echoed these troubles created by the then SEC chief. Ali Martinez is well known for his highly accurate analysis and a sharp eye identifying major crypto trends.

However, now that Gary Gensler is about to move out of his office on 20 Jan, Algorand could finally recover back to its fundamentally justified price range of $1. Trump assuming office on the same day acts as a double push for altcoins like ALGO.

Long Term Price Estimates

As mentioned in previous sections, short-term price estimates put Algorand around $1 by Q1 of 2025. In the medium term, we estimate Algorand to recover to its ATH of $3.28 in 2024. This is in line with the estimates of an Altcoin Rally in the later part of the year.

In the long term, if the global regulatory environment favors cryptocurrencies, we might see ALGO reach up to $15 by 2028, the next Bitcoin Halving season. Strong partnerships with global entities like the UN, developmental agencies working in developing countries, and several other institutional partnerships are expected to support Algorand's growth.

The Algorand Foundation is reportedly in talks with Cardano to possibly create an interchain asset transfer solution with Polkadot. Cardano founder Charles Hoskinson confirmed the partnership, but Polkadot has yet to confirm it.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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