Algorand (ALGO)

Current price: $ 0.42

24 hours price change: $ -0.03 (-6.12%)

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 April 24th, 2022 to May 24th, 2022.

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 04/24/2022 and 05/24/2022.

According to the performance of Algorand between April 24th, 2022 and May 24th, 2022, Algorand performed the best on Thursdays. On average, the price of Algorand increased 1.39% on Thursday.

The weekday on which the Algorand performed the worst, is Saturday. On Saturdays, the Algorand declined in value on average by -2.64%.

Algorand weekday performance

The Algorand will almost not change or only slightly increase in value on an average Sunday. The average change of the Algorand on Sundays is 0.14%. The standard deviation of the Algorand is 0.11%, which means that in 68% of the Sundays, the range of the change of the Algorand is 0.03% and 0.26%. The uncertainty (or variablility) of the expected daily result is low, because the standard deviation is low.

It is hard to tell whether the Algorand will increase or decrease in value on an average Monday. The average change on a Monday for the Algorand is -0.06%. However, the standard deviation on this weekday is 0.20%. This means that on most Mondays, the change in value of the Algorand is between -0.25% and 0.14%.

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 0.64%. However, the uncertainty of this increase is high. The expected change in value of the Algorand on a Tuesday is between -0.21% and 1.49% (see also the table below).

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 -0.09%. However, the standard deviation on this weekday is 0.15%. This means that on most Wednesdays, the change in value of the Algorand is between -0.25% and 0.06%.

On an average Thursday the Algorand shows an increase in value of 1.39%. However, the change of Algorand on most of the Thursdays is between -0.23% and 3.00%. Therefore it is hard to tell whether an average Thursday is a good day to start buying Algorands.

The Algorand declines in value on an average Friday with -2.22%. However, the uncertainty (or standard deviation) is quite large, namely 3.79%. This means that it is not possible to say whether on a regular Friday the Algorand will increase or decrease in value.

The Algorand declines in value on an average Saturday with -2.64%. However, the uncertainty (or standard deviation) is quite large, namely 4.82%. This means that it is not possible to say whether on a regular Saturday the Algorand will increase or decrease in value.

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 0.14% 0.11% 0.03% to 0.26%
Monday -0.06% 0.20% -0.25% to 0.14%
Tuesday 0.64% 0.85% -0.21% to 1.49%
Wednesday -0.09% 0.15% -0.25% to 0.06%
Thursday 1.39% 1.61% -0.23% to 3.00%
Friday -2.22% 3.79% -6.00% to 1.57%
Saturday -2.64% 4.82% -7.46% to 2.19%
 

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