Algorand (ALGO) has struggled greatly throughout the bear market after failing to launch in the 2020/2021 bull market. This has seen the altcoin’s price decline more than 96% from its 2019 all-time high price. However, investors have not lost hope in the coin as one crypto analyst sees an incredible bullish launch in the future of the asset.
Algorand (ALGO) To Reach $300
In an incredibly bullish post made back in July, pseudonymous crypto analyst Divergencemaker83 on TradingView gave what is arguably one of the most bullish outlooks for Algorand (ALGO). The forecast predicts that the altcoin’s price will rise as high as $300.
This is interesting because a move to $300 would mean a 10x from its previous all-time high, as well as a 300,000% increase from its current price of $0.11. Such a move would put it on par with the likes of Dogecoin and Shiba Inu which saw explosive growth as well.
The first forecast was posted by the crypto analyst back in July and despite ALGO’s slow movement since then, the analyst has not backed down. In a follow-up post on Tradingview, Divergencemaker83 points to accumulation going on as retail traders continue to buy the coin.
He points out that the Algorand trading volume is low but does not think it is anything to worry about. Rather, the analyst asks investors to keep building on the support being…
