Analytics

ALGO Price Prediction – Technical Analysis

Algorand builds technology that accelerates the convergence between decentralized and traditional finance. It does this by enabling the simple creation of next generation financial products, protocols and exchange of value.

Algorand created the world’s first pure proof-of-stake foundational blockchain designed for the future of finance. Beyond the elementary requirement of an open, public network, Algorand’s technology enables a set of high performing Layer-1 blockchains that provide security, scalability, complete transaction finality, built in privacy, Co-Chains, and advanced smart contracts that are essential in a FutureFi world. This will affect ALGO price which is the native token of Algorand.

Defi to FutureFi

DeFi is disrupting the financial landscape as we know it, opening opportunities for expanding access and making financial applications more accessible and inclusive. With unique Layer-1 standards, approach to smart contracts, and interoperability frameworks, Algorand enables DeFi organizations to leverage the core principles and value of decentralized technology to define the future of finance.

Some of the DeFi on Algorand are IDEX, Republic, Meld Gold, etc.

Institutional Finance

Algorand is providing a bridge for centralized systems and legacy processes to successfully participate in the future of finance. It uses a secure, final, and frictionless technology. As we enter a new economic reality where control is balanced with transparency and inclusivity, established institutions that leverage the latest blockchain and DeFi infrastructure will play a leading role in the fundamental shift of redefining finance.

Some of the traditional finance use cases on Algorand are Instimatch, Monerium, SIAE, etc.

Government and CBDC

Central banks and governments have been thrust into a new reality with new opportunities. These opportunities will foster economic growth and prosperity for their people, preserve monetary value, and maintain governance over their currency. Algorand is armed with technical proficiencies, thought leaders, and capabilities to help central banks around the world plan, test, and adopt blockchain in order to thrive and participate in a new digital economy.

Let us review ALGO Price

ALGO Price Prediction.

ALGO is currently trading above the support zone of $0.9774 and below the resistance of $1.2670. If it can break this resistance zone, we could start seeing a move towards $1.3944, $1.5599, $1.7706, $2.3793 and $3.3642. Failure to hold the support at $0.9774 could lead to a drop towards $0.7813.

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Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

   

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