Algorand (ALGO)

Current price: $ 1.83

24 hours price change: $ -0.18 (-9.10%)

Daily analysis of Algorand (ALGO) - 6 months

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 6 months, starting on April 27th, 2021 to October 27th, 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 04/27/2021 and 10/27/2021.

According to the performance of Algorand between April 27th, 2021 and October 27th, 2021, Algorand performed the best on Wednesdays. On average, the price of Algorand increased 1.59% on Wednesday.

The weekday on which the Algorand performed the worst, is Friday. On Fridays, the Algorand declined in value on average by -0.29%.

Algorand weekday performance

Algorand increased in value on an average Sunday only slightly. The average increase in value of the Algorand was 0.05%. 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 (1.19%). This means that on 68 percent of the Sundays, the change in price of the Algorand is expected to be in the range of -1.13% and 1.24%.

On an average Monday, the Algorand increased 0.46%. However, since the expected deviation is 2.00%, the Algorand will decline in value on a Monday quiet regularly. The expected price change of the Algorand on a Monday is between -1.53% and 2.46%.

Historical performance on Tuesday 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 Tuesday with 0.76%. However, the uncertainty of this increase is high. The expected change in value of the Algorand on a Tuesday is between -1.41% and 2.94% (see also the table below).

On an average Wednesday the Algorand shows an increase in value of 1.59%. However, the change of Algorand on most of the Wednesdays is between -3.12% and 6.31%. Therefore it is hard to tell whether an average Wednesday is a good day to start buying Algorands.

Algorand increased in value on an average Thursday only slightly. The average increase in value of the Algorand was 0.25%. 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 (1.49%). This means that on 68 percent of the Thursdays, the change in price of the Algorand is expected to be in the range of -1.24% and 1.73%.

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 -0.29%. However, the standard deviation on this weekday is 2.64%. This means that on most Fridays, the change in value of the Algorand is between -2.93% and 2.35%.

It is hard to tell whether the Algorand will increase or decrease in value on an average Saturday. The average change on a Saturday for the Algorand is -0.10%. However, the standard deviation on this weekday is 1.65%. This means that on most Saturdays, the change in value of the Algorand is between -1.75% and 1.55%.

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 0.05% 1.19% -1.13% to 1.24%
Monday 0.46% 2.00% -1.53% to 2.46%
Tuesday 0.76% 2.18% -1.41% to 2.94%
Wednesday 1.59% 4.72% -3.12% to 6.31%
Thursday 0.25% 1.49% -1.24% to 1.73%
Friday -0.29% 2.64% -2.93% to 2.35%
Saturday -0.10% 1.65% -1.75% to 1.55%
 

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