Algorand Price Soars 9% as RWA TVL Hits $77M – Analyst Predicts a 60% Breakout

Highlights:

• Algorand’s price has increased 9% to $0.39 at press time, as bullish pennant formation suggests a potential breakout.
• Its daily trading volume has soared by 32%, signaling heightened market activity. 
• Algorand price will likely continue its bullish trajectory in the short term, especially if it can break and hold above the $0.39 resistance level.

Algorand’s price is winning on the charts, surging 9% to $0.39 in the past 24 hours. Its daily trading volume has skyrocketed 32% to $284 million, showing increased investor confidence in the token. ALGO is now up 4% in a week and 102% in a year, despite a slight fall of 5% in a month. 

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Algorand, a blockchain focusing on sustainability and efficiency, is gaining traction among global investors. Recently, ALGO strengthened its partnership with Mastercard, where users can use ALGO for payment everywhere Mastercard is accepted. 

Another day, another meal paid for via @PeraAlgoWallet x @Mastercard

Things are starting to heat up.

Who said Instant Finality doesn’t matter?

(Via @nonfungibleab) pic.twitter.com/ezvtpBNOqe

— Algorand Foundation (@AlgoFoundation) January 14, 2025

Meanwhile, Algorand has revealed RWA TVL increased by 34.6% from $57 million to $77 million in the second half of last year, driven primarily by expanding asset tokenization on Lofty. This shows that Algorand is gaining exponential traction in the crypto sphere. 

2024 ended on a high for Algorand.

RWA TVL increased by 34.6% from $57 million to $77 million in the second half of last year, driven primarily by expanding asset tokenization on @lofty_ai 🏘️

64.5% of the year’s follower growth on X occurred in Q4, with 13,196 new followers… pic.twitter.com/iG396rVrR1

— Algorand Foundation (@AlgoFoundation) January 14, 2025

Elsewhere, Ali Charts, a well-known crypto analyst, said via X that Algorand’s price is poised for a potential 60% breakout. A decisive close outside the $0.39–$0.32 range will set the direction of the trend in the coming days. 

#Algorand $ALGO is poised for a potential 60% breakout! A decisive close outside the $0.39–$0.32 range will set the direction of the trend. pic.twitter.com/ZmSQ7gZGdK

— Ali (@ali_charts) January 14, 2025

Algorand Statistical Data

Based on CoinmarketCap data: 

• ALGO price now – $0.39
• Trading volume (24h) – $284.57 million
• Market cap – $3.26 billion
• Total supply – 10 billion
• Circulating supply – 8.37 billion
• ALGO ranking – #42

Algorand Price Aims for a Breakout

Algorand price shows signs of an upward breakout reinforced by the bullish pennant formation in the daily timeframe. In case of an upside breakout, we can see a massive bullish rally in the coming days. After several weeks of consolidation within this structure, the recent surge suggests that bullish momentum may push ALGO above this critical resistance level, potentially to $0.44 soon.

Elsewhere, f7zz, a well-known crypto analyst, says via X that a successful breakout could take Algorand’s price to $0.85.

🚀 $ALGO Daily Update 🚀$ALGO is breaking out of a symmetrical triangle on the daily timeframe. A successful breakout could take it to $0.85. momentum is building, and the move could be significant. GIGA bullish for $ALGO! 🌟#ALGO #AltSeason2025 #Crypto #Altcoins #AlgorandCan pic.twitter.com/DNqBYlPXhw

— f7zz (@Crypto_F7zz) January 15, 2025

Meanwhile, the bulls are showing strength as they aim to flip the $0.3966 resistance into the support floor. If the bulls bring down the key barrier coinciding with the 50-day SMA at $0.39, they may trigger a strong rally to $0.44 in the short term.

The rising RSI momentum also shows that the bulls are gaining momentum. Its position at 54.84 above the 50-mean level suggests that the bulls have the upper hand. Increased buying activity may cause the RSI to hurtle towards the 70-overbought region in the coming days. 

The MACD is upholding a bullish divergence, with the MACD line (0.0009) crossing above the orange signal line (0.0006). This suggests that buying pressure is increasing, calling for traders and investors to rally behind ALGO.

Can the ALGO Bulls Rally 38%?

The Algorand price will likely continue its bullish trajectory in the short term, especially if it can break and hold above the $0.39 resistance level. A successful breakout would open the door for a move towards $0.44 or even $0.54, a 38% increase in the coming weeks.

Conversely, if a correction occurs, the price of Algorand could be limited to the $0.34-$0.31 support zone, where buyers could re-enter the market, providing another opportunity for upward continuation. In the meantime, all eyes are on the $0.29 support zone in case of intense selling pressure. 

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