Algorand (ALGO)

Current price: $ 1.38

24 hours price change: $ -0.17 (-10.89%)

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 11th, 2021 to May 11th, 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 04/11/2021 and 05/11/2021.

According to the performance of Algorand between April 11th, 2021 and May 11th, 2021, Algorand performed the best on Mondays. On average, the price of Algorand increased 2.67% on Monday.

The weekday on which the Algorand performed the worst, is Saturday. On Saturdays, the Algorand rose in value on average by 0.04%. The price still increased on Saturdays, allthough it was the smallest increase of all days on average.

Algorand weekday performance

The average increase of the Algorand on an average Sunday is 0.46%. This is a small increase, however, the expected change of the Algorand in 95% of the Sundays is -0.36% and 1.28%. This means that only on 2.5% (or slightly over 1 Sunday per year) the expected change of the Algorand is below -0.36%. On the other hand, you would not have to expect that the change on a single Sunday will be above 1.28%. This will also only happen on 2.5% of the Sundays. On 68% of the Sundays, the increase of the Algorand will be in the range of 0.05% and 0.87%.

On an average Monday the Algorand shows an increase in value of 2.67%. However, the change of Algorand on most of the Mondays is between -2.47% and 7.81%. Therefore it is hard to tell whether an average Monday is a good day to start buying Algorands.

On an average Tuesday the Algorand shows an increase in value of 1.33%. However, the change of Algorand on most of the Tuesdays is between -1.01% and 3.66%. Therefore it is hard to tell whether an average Tuesday is a good day to start buying Algorands.

On an average Wednesday the Algorand shows an increase in value of 2.35%. However, the change of Algorand on most of the Wednesdays is between -4.14% and 8.84%. Therefore it is hard to tell whether an average Wednesday is a good day to start buying Algorands.

Historical performance on Thursday 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 Thursday with 0.83%. However, the uncertainty of this increase is high. The expected change in value of the Algorand on a Thursday is between -0.14% and 1.80% (see also the table below).

On an average Friday the Algorand shows an increase in value of 1.75%. However, the change of Algorand on most of the Fridays is between -0.88% and 4.38%. Therefore it is hard to tell whether an average Friday is a good day to start buying Algorands.

Algorand increased in value on an average Saturday only slightly. The average increase in value of the Algorand was 0.04%. 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 (0.09%). This means that on 68 percent of the Saturdays, the change in price of the Algorand is expected to be in the range of -0.04% and 0.13%.

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 0.46% 0.41% 0.05% to 0.87%
Monday 2.67% 5.14% -2.47% to 7.81%
Tuesday 1.33% 2.33% -1.01% to 3.66%
Wednesday 2.35% 6.49% -4.14% to 8.84%
Thursday 0.83% 0.97% -0.14% to 1.80%
Friday 1.75% 2.63% -0.88% to 4.38%
Saturday 0.04% 0.09% -0.04% to 0.13%
 

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