Algorand (ALGO)

Current price: $ 1.16

24 hours price change: $ 0.07 (6.64%)

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 September 8th, 2020 to March 8th, 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 09/08/2020 and 03/08/2021.

According to the performance of Algorand between September 8th, 2020 and March 8th, 2021, Algorand performed the best on Thursdays. On average, the price of Algorand increased 1.33% on Thursday.

The weekday on which the Algorand performed the worst, is Wednesday. On Wednesdays, the Algorand declined in value on average by -0.42%.

Algorand weekday performance

Allthough the Algorand decreases in value with -0.37% on an average Sunday, the uncertainty of this decline is large. The standard deviation of the change of Algorand on Sundays is 2.42%. This means that the expected change of the value of Algorand is between -2.79% and 2.05% on 68 out of 100 Sundays.

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 -0.27%. However, the standard deviation on this weekday is 3.26%. This means that on most Mondays, the change in value of the Algorand is between -3.53% and 2.99%.

Algorand increased in value on an average Tuesday only slightly. The average increase in value of the Algorand was 0.22%. 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 (3.89%). This means that on 68 percent of the Tuesdays, the change in price of the Algorand is expected to be in the range of -3.67% and 4.11%.

Allthough the Algorand decreases in value with -0.42% on an average Wednesday, the uncertainty of this decline is large. The standard deviation of the change of Algorand on Wednesdays is 3.38%. This means that the expected change of the value of Algorand is between -3.80% and 2.96% on 68 out of 100 Wednesdays.

On an average Thursday the Algorand shows an increase in value of 1.33%. However, the change of Algorand on most of the Thursdays is between -2.28% and 4.94%. Therefore it is hard to tell whether an average Thursday is a good day to start buying Algorands.

Historical performance on Friday 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 Friday with 0.60%. However, the uncertainty of this increase is high. The expected change in value of the Algorand on a Friday is between -2.38% and 3.58% (see also the table below).

On an average Saturday, the Algorand increased 0.53%. However, since the expected deviation is 3.09%, the Algorand will decline in value on a Saturday quiet regularly. The expected price change of the Algorand on a Saturday is between -2.56% and 3.62%.

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 -0.37% 2.42% -2.79% to 2.05%
Monday -0.27% 3.26% -3.53% to 2.99%
Tuesday 0.22% 3.89% -3.67% to 4.11%
Wednesday -0.42% 3.38% -3.80% to 2.96%
Thursday 1.33% 3.61% -2.28% to 4.94%
Friday 0.60% 2.98% -2.38% to 3.58%
Saturday 0.53% 3.09% -2.56% to 3.62%
 

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