Algorand Gains 1.51% as ALGO/USDT Trades Below 0.12 USDT

Algorand (ALGO) gained 1.51% over 24 hours to trade at 0.1145 USDT on Oct. 21, while its latest completed USD daily close remained below its 20-day average.

The composite ALGO/USDT quote was recorded at 4:19 p.m. ET (20:19 UTC). The pair had traded between 0.1113 and 0.1168 USDT during the UTC day to that point, with its high below 0.12 USDT.

ALGO’s Oct. 20 USD daily close was $0.113680, up from $0.109897 on Oct. 19. It last closed a UTC day above $0.12 on Oct. 11, at $0.126235. The 20-day average of USD closing prices through Oct. 20 was about $0.1197, placing the latest completed close below both that average and $0.12.

Bollinger Bands calculated from those 20 closes ran from about $0.1068 to $0.1326. Their width increased from 21.1% of the midpoint on Oct. 19 to 21.5% on Oct. 20, so the latest completed readings showed a slight widening.

An earlier comparison of ALGO’s price with a monthly forecast covered the prior price snapshot. The Oct. 21 quote adds a later intraday reading; that day’s UTC daily close had not been recorded at the time of the quote.