{"id":503421,"date":"2022-09-23T21:02:58","date_gmt":"2022-09-23T21:02:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=503421"},"modified":"2022-09-23T21:02:58","modified_gmt":"2022-09-23T21:02:58","slug":"algorand-undermines-crypto-bloodbath-plays-in-the-greens","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/algorand-algo\/algorand-undermines-crypto-bloodbath-plays-in-the-greens\/","title":{"rendered":"Algorand (ALGO) Undermines Crypto Bloodbath, Adds Over 27% In A Week"},"content":{"rendered":"
This week has been eventful in the crypto market. Many cryptocurrencies have recorded massive losses since Monday, September 19.<\/span><\/p>\n The Merge on September 15 kickstarted another downtrend for crypto prices. Afterward, CPI data made the feds hike the interest rate by 75 basis points, sending assets price downwards.\u00a0<\/span><\/p>\n Related Reading: Bitcoin aSOPR Profit-Loss Junction Continues To Act As Resistance<\/a><\/strong><\/p>\n But as these macroeconomic factors push many digital assets down, others resist the pressure and move forward instead.\u00a0<\/span><\/p>\n Algorand ALGO is one of these assets, recording price gains in its 24 hours movements. But BTC and ETH haven\u2019t fared well. For instance, on September 20 and 21, Bitcoin lost its grip on $19K, falling to <\/span>$18K.\u00a0<\/span><\/p>\n On September 22, BTC climbed again to $19K, an intraday high, and did not hold on to that level till press time. Currently, the BTC price is again bounced to $18,914, representing a 1.91% loss in 24 hours.\u00a0<\/span><\/p>\n While many cryptocurrencies bleed, ALGO is recording positive price movements. Currently, the ALGO price is $0.3761 on <\/span>TradingView<\/span><\/a>, and <\/span>CoinMarketCap<\/span><\/a> shows a 2.48% growth in 24 hours while 27.98% in the last week.<\/span><\/p>\n So far, ALGO price movements are all green, as seen in the chart above. The coin started an upward climb since the close of the market on September 17. It jumped from $0.2973 to $0.3109 the same day.\u00a0<\/span><\/p>\n On September 18, ALGO lost some of its gains to close the market at $0.2925. But a few hours later, the coin jumped again and closed the market at $0.3172 on September 19. Since then, to press time, ALGO has continued its upward movement.\u00a0<\/span><\/p>\n It climbed to $0.698 on September 22 and is today trading at $0.3767. So far, the ALGO price movement shows a continuous price gain for three consecutive days.\u00a0<\/span><\/p>\n Analysts have also pointed out that ALGO\u2019s moving average convergence divergence is positive. Also, the coin\u2019s RSI (Relative Strength Index) is at 58.18, showing that ALGO is closing to the overbought region.\u00a0<\/span><\/p>\nAlgorand’s ALGO Not Affected By Macros<\/b><\/h2>\n