Algorand (ALGO) Price Soars 71%: What Does It Mean for These 16 Million Investors?
The Reason Behind Algorand's Investors' Losses
Algorand price has witnessed significant growth but the majority of investors are experiencing losses. The altcoin needs a 926% increase to reach its all-time high of $3.27. Currently trading at $0.31, the chances for profit are slim, with 85% of ALGO holders underwater.
Algorand Break-Even
Only 20.6% of ALGO investors are in profit, despite a 71% rally in price. This number has increased by 2.1% over 12 days, showcasing minimal gains. Unless ALGO surpasses $1, profitability remains uncertain.
ALGO Price Prediction: Lack of Profits as a Positive Trend
Despite limited profits for investors, Algorand's price surge could lead to a further rise if it breaches the $0.32 resistance level. However, selling pressure might push the altcoin back to $0.30, risking its bullish momentum.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.