At one point in 2019, Algorand rose to $3.59. While prices naturally corrected, the 2021 boom did not manage to elevate ALGO to this level. Instead, the bulls managed to retest $2.9. However, once this happened at the end of November 2021, prices were firmly rejected, triggering a drop that ultimately saw ALGO sink to a low of $0.094 in September 2023. The decline changed Algorand and the way traders perceived the coin. Not only did it fall in the cryptocurrency ranking as alternatives were sought, but activity also dropped accordingly.
While ALGO is recovering, the coin is still 90% below its all-time high - will this change in the bull run? Observing the ALGOUSDT chart, ALGO is trading at new highs for 2024, surpassing $0.33.
At this rate, ALGO is among the top gainers of the top 100 this week. For this trend to continue, the bulls must push prices higher today and throughout the weekend.
