Coins
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Algorand
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2022-09-22

September 16 - September 22 market watch: Algorand goes up by 24% as buying pressure persists.

Between September 16 - September 22, Algorand has been mostly bullish as its price has been in the rising mode. The price swings of ALGO pointed to the presence of medium volatility. There has been a rise in the market capitalization of the asset during the period under review. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.

The volatility has been suppressed, as the Algorand price action suggests. Our comprehensive data indicates that the price change of ALGO has been moderate on the back of the average volatility of 7% for the given time period. The highest point of the coin's volatility reached 8.33% in the analyzed time frame. On September 20, the volatility of the asset was at its minimum at 0.27%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.

The trading session on September 16 started with Algorand opening at $0.3 on the backdrop of bullish sentiment throughout the market. The price of ALGO took a 1% down downswing at the open of the weekly trading period. September 17 saw the coin going another 5% since the open, supported by the corresponding trading volume. During the following trading period on September 18, the price of Algorand oscillated between the low at $0.3 and the high at $0.32, while the price moved down by 2%. The next trading session was characterized by more bullish price action (as ALGO made a 3% move) on the back of the consistent trading volume. The developments on the Algorand market on September 20 started with the price opening at $0.32 and subsequently moving to $0.33, the close of the day, while dropping to the 24H low at $0.32 and spiking to the 24H high at $0.32. While the 24H high and low on September 21 were at $0.34 and $0.32, respectively, the crypto coin had been traded in the area between the open at $0.33 and the close at $0.34. September 22 presented us with the following price action data: the coin opened the period at $0.32 and went on to establish the low at $0.32 and the high of the day at $0.38 before closing the day at $0.37. The price action on the asset's market during the period between September 16 and September 22 topped at $0.38, while the bottom of the price range was established at $0.29. Algorand shaped the $0.07 price range over the week of price action, which constituted the 24% gap between the weekly low and the weekly high.

Over the period of the last 7 days, September 16 to September 22, Algorand saw its average trading volume fluctuate between $65 888 993 and $220 176 626. During the week before September 16, the trading volume of ALGO flowed from $57 908 190 to $100 442 911. The 76% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 24%.

The total market capitalization of Algorand during the past 7-day oscillated between $2 041 921 778, the starting point that was established on September 16, and $2 337 634 260 on September 22, the end date of the reviewed period. Percentage-wise, the market capitalization of ALGO has shifted by 14% in the past week. The price of the coin changed by 24% on the back of the 14% shift in its total market capitalization. Algorand ’s market capitalization from the week before changed by 1%, as the result of fluctuation between $2 120 475 571 and $2 041 921 778, to give a clearer vision of the current state of the market.

Price
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Sat 17Mon 19Wed 21Sat 17Mon 19Wed 210.280.300.320.340.360.280.300.320.340.36
Article date: September 22 | September 16 - 22

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