A relentless rally. That seems like the perfect phrase to describe Algorand’s (ALGO) performance between the first week of November 2024 and December.
During that period, Algorand’s price soared from $0.10 to $0.55 amid reports that cryptos founded in the U.S. would benefit greatly from Donald Trump’s presidency.
But in 2025, that incredible performance has hit a roadblock, with ALGO crashing to $0.18 on March 19. All through the year, the altcoin’s value has dropped by 45%.
Despite the prolonged bearish pressure, Algorand’s price appears to have found stability, as sellers seem exhausted. Does this imply an impending recovery?
Algorand Technical and On-Chain Analysis Reveals Support
On the daily chart, ALGO’s 45% decline resulted in the formation of a falling channel. However, after the drop to $0.18, the altcoin bounced and is now flirting with the upper trendline of the falling channel near $0.22.
Rising to this trendline indicates that Algorand’s price could be on the brink of a breakout. A look at the Exponential Moving Average (EMA) also seems to validate this thesis.
As of this writing, ALGO’s price is trading close to the 20 EMA (blue), a key support. Therefore, if the cryptocurrency’s price keeps hovering around this point, a clear breakout from the bearish pattern shown below could be next.
From an on-chain perspective, the In/Out of Money Around Price (IOMAP) confirms that Algorand is strongly supported.
IntoTheBlock data reveals that over 400 addresses hold approximately 1.47 billion ALGO tokens, accumulated around $0.19. This profitable volume surpasses the unrealized losses between $0.21 and $0.24.
As a result, ALGO faces minimal resistance ahead. If this trend holds, Algorand’s price could break above $0.24 in the short term, reinforcing the support reflected by the technical perspective above.
ALGO In/Out of Money Around Price | Credit: IntoTheBlock
ALGO Price Forecast: Bullish Momentum Building
In line with this thesis, the daily chart shows that the Relative Strength Index (RSI) reading has increased. The increase indicates that the momentum around ALGO is exiting the bearish phase.
However, the RSI must breach the neutral line at 50.00 to validate this move. If this happens, Algorand’s price might break above the upper trendline of the falling channel mentioned above.
If that were to happen, the altcoin might experience a sustained rally toward $0.30 at the 0.618 golden ratio. A bullish market condition could further accelerate the move and drive ALGO to $0.36.
In that case, ALGO’s market value could sink to $0.10, the level it last reached in November 2024.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
