Algorand (ALGO)

Current price: $ 0.19

24 hours price change: $ 0.003400 (1.79%)

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 March 8th, 2020 to April 7th, 2020.

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 03/08/2020 and 04/07/2020.

According to the performance of Algorand between March 8th, 2020 and April 7th, 2020, Algorand performed the best on Saturdays. On average, the price of Algorand increased 0.69% on Saturday.

The weekday on which the Algorand performed the worst, is Friday. On Fridays, the Algorand declined in value on average by -0.49%.

Algorand weekday performance

It is hard to tell whether the Algorand will increase or decrease in value on an average Sunday. The average change on a Sunday for the Algorand is -0.03%. However, the standard deviation on this weekday is 1.47%. This means that on most Sundays, the change in value of the Algorand is between -1.50% and 1.44%.

Algorand increased in value on an average Monday only slightly. The average increase in value of the Algorand was 0.03%. Allthough the Algorand closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (0.87%). This means that on 68 percent of the Mondays, the change in price of the Algorand is expected to be in the range of -0.84% and 0.91%.

On an average Tuesday, the Algorand increased 0.33%. However, since the expected deviation is 0.54%, the Algorand will decline in value on a Tuesday quiet regularly. The expected price change of the Algorand on a Tuesday is between -0.21% and 0.87%.

It is hard to tell whether the Algorand will increase or decrease in value on an average Wednesday. The average change on a Wednesday for the Algorand is -0.07%. However, the standard deviation on this weekday is 0.77%. This means that on most Wednesdays, the change in value of the Algorand is between -0.85% and 0.70%.

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 -0.26%. However, the standard deviation on this weekday is 3.55%. This means that on most Thursdays, the change in value of the Algorand is between -3.81% and 3.29%.

Allthough the Algorand decreases in value with -0.49% on an average Friday, the uncertainty of this decline is large. The standard deviation of the change of Algorand on Fridays is 0.74%. This means that the expected change of the value of Algorand is between -1.23% and 0.24% on 68 out of 100 Fridays.

Historical performance on Saturday do not show an increase in value of the Algorand on which a prediction can be made. The Algorand increased in value on average on an average Saturday with 0.69%. However, the uncertainty of this increase is high. The expected change in value of the Algorand on a Saturday is between -0.17% and 1.55% (see also the table below).

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 -0.03% 1.47% -1.50% to 1.44%
Monday 0.03% 0.87% -0.84% to 0.91%
Tuesday 0.33% 0.54% -0.21% to 0.87%
Wednesday -0.07% 0.77% -0.85% to 0.70%
Thursday -0.26% 3.55% -3.81% to 3.29%
Friday -0.49% 0.74% -1.23% to 0.24%
Saturday 0.69% 0.86% -0.17% to 1.55%
 

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