Algorand (ALGO)

Current price: $ 0.55

24 hours price change: $ 0.55 (inf%)

Daily analysis of Algorand (ALGO) - 1 month

The performance of Algorand regarding the price differs every day. To make the best decision to buy Algorand, we are analysis in this article the performance of Algorand on the different weekdays. The amounts for this analysis are in USD ($). The analysis is performed on the last 1 month, starting on December 20th, 2020 to January 17th, 2021.

In the barchart below, the weekdays and average performance of Algorand are shown side by side.

Average daily change in price of Algorand per weekday between 12/20/2020 and 01/17/2021.

According to the performance of Algorand between December 20th, 2020 and January 17th, 2021, Algorand performed the best on Saturdays. On average, the price of Algorand increased 2.40% on Saturday.

The weekday on which the Algorand performed the worst, is Monday. On Mondays, the Algorand declined in value on average by -1.39%.

Algorand weekday performance

On an average Sunday, the Algorand increased 0.48%. However, since the expected deviation is 2.46%, the Algorand will decline in value on a Sunday quiet regularly. The expected price change of the Algorand on a Sunday is between -1.99% and 2.94%.

The Algorand declines in value on an average Monday with -1.39%. However, the uncertainty (or standard deviation) is quite large, namely 1.16%. This means that it is not possible to say whether on a regular Monday the Algorand will increase or decrease in value.

Allthough the Algorand decreases in value with -0.43% on an average Tuesday, the uncertainty of this decline is large. The standard deviation of the change of Algorand on Tuesdays is 2.50%. This means that the expected change of the value of Algorand is between -2.92% and 2.07% on 68 out of 100 Tuesdays.

On Wednesdays, the Algorand decreases in value on average with -0.80%. On most of the Wednesdays the Algorand decreases in value between -1.50% and -0.11%. The uncertainty (0.70%) is higher than the average decline percentage (-0.80%). Therefore, expected range of price changes of the Algorand on Wednesdays is large.

It is hard to tell whether the Algorand will increase or decrease in value on an average Thursday. The average change on a Thursday for the Algorand is -0.16%. However, the standard deviation on this weekday is 2.47%. This means that on most Thursdays, the change in value of the Algorand is between -2.63% and 2.31%.

It is hard to tell whether the Algorand will increase or decrease in value on an average Friday. The average change on a Friday for the Algorand is -0.14%. However, the standard deviation on this weekday is 2.32%. This means that on most Fridays, the change in value of the Algorand is between -2.47% and 2.18%.

On an average Saturday the Algorand shows a high increase in value, namely 2.40%. The standard deviation is below the average increase percentage (standard deviation is 2.14%), meaning that on 68% of the Saturdays the Algorand will increase with a percentage between 0.26% and 4.54%. This also means that, on average, on 16 percent of the Saturdays, the Algorand will increase with a percentage above this range. On the other 16% of the Saturdays, the Algorand will change with a percentage below the 0.26%.

Algorand weekday performance details

Find below the details of the performance of Algorand per day of the week. Both the average change in percentage and the standard deviation. The higher the standard deviation is, the higher the variation within the range of average change. Therefore, the 68% range has been added, which represents the change in price on 68% of the days.

Weekday Average change (%) Standard deviation (%) 68% range
Sunday 0.48% 2.46% -1.99% to 2.94%
Monday -1.39% 1.16% -2.55% to -0.23%
Tuesday -0.43% 2.50% -2.92% to 2.07%
Wednesday -0.80% 0.70% -1.50% to -0.11%
Thursday -0.16% 2.47% -2.63% to 2.31%
Friday -0.14% 2.32% -2.47% to 2.18%
Saturday 2.40% 2.14% 0.26% to 4.54%
 

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