Algorand price has made a swift 5.5% recovery in the past 24 hours to reclaim the $0.243 level, a move that puts the Layer-1 ALGO token among today’s crypto top gainers.
After dipping below $0.23 during the weekend, ALGO appears to be rebounding from key Fibonacci and technical levels, reigniting interest from traders watching for a deeper reversal.
This recovery comes just days after the Algorand Foundation announced a plan to target the $18.9 trillion market for tokenized real-world assets. Additionally, Algorand is compliant with ISO 20022, giving it an advantage as traditional finance looks to adopt blockchain technology.
Fundamentals Align With New Momentum
On July 31, the Algorand Foundation shared a plan to encourage institutions to adopt its technology. The key elements of their strategy include Intermezzo, a system for safely handling traditional assets as digital tokens, expected to launch in the third quarter of 2025. They will also introduce Debt ASA MVP, enabling compliant tokenized debt products, in the fourth quarter of 2025.
Also, there is the Rocca Wallet, a user-friendly wallet that allows people to keep their assets safely without needing a seed phrase, aimed at encouraging widespread use.
Crypto analyst Santolita highlighted on X that dev activity is climbing, total value locked (TVL) is rising, and liquidity is trending upward, all signs that smart money might be positioning early.
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At the time of writing, Algorand has a total value locked (TVL) of $106.4 million, which is a 5.76% increase in the last 24 hours, according to DeFiLlama. However, it still ranks as the 48th largest chain in terms of TVL, trailing behind many other Layer-1 chains.
In recent data from Artemis, decentralized exchanges (DEX) had a trading volume of $1.02 million. Additionally, there were about 44,000 active addresses each day.
Algorand Price Outlook: Bulls Reclaim $0.24, Eyes on $0.30+
Algorand price shows a bounce from the 0.382 Fibonacci retracement level. Trader CW highlighted important targets at $0.45 (Fib 1.618) and $0.65 (Fib 2.618). This increase comes after a sharp drop from the July peak near $0.35, creating a potentially positive setup.
On the daily chart, ALGO has moved past the $0.24 resistance, which was a key high from July 15. It has also regained the 200-day EMA, staying above $0.235, with a 24-hour trading volume of $86.9 million, which is 5.9% higher than its average over the past week.
However, there are some concerns. The MACD histogram is still negative (-0.0083), indicating possible weakness ahead.
The RSI-14 is at 47.79, just below neutral. This means there is potential for a rally before it becomes overbought.
Algorand price is making its way back up, now approaching the upper Bollinger Band at $0.2703 after bouncing off support around $0.227. If buyers stay in control, the next hurdles are $0.255 and $0.27.
Clearing that range could open the path to $0.30, but if momentum stalls, ALGO coin might slip back toward $0.227, with stronger support near the 100-day moving average at $0.2169.
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