Algorand (ALGO) Rises 0.39% on November 2 Amid Mixed 24-Hour Performance

On November 2, 2025, Algorand (ALGO) rose by 0.39% within 24 hours to reach $0.18. Despite this short-term gain, the asset recorded a 2.39% drop over the past week, a 1.47% rise over the last month, and a significant 46.19% decline year-over-year. The price movement reflects ongoing volatility and mixed performance in the broader crypto market, where macroeconomic uncertainty and investor behavior remain key factors.

Looking ahead, market participants are closely watching a series of major economic reports in the United States. On November 5, data from the ADP Nonfarm Employment Change, ISM Non-Manufacturing PMI, S&P Global Services PMI, and Crude Oil Inventories will be released. These indicators are anticipated to shape sentiment around central bank policy decisions and inflation expectations, which could indirectly influence crypto prices. With Federal Reserve Chair Jerome Powell signaling caution about rate cuts, traders may respond to any data suggesting a shift in inflationary pressures.

Technical indicators used in assessing ALGO’s potential trajectory include the 50-day and 200-day moving averages, as well as the Relative Strength Index (RSI). ALGO’s current price of $0.18 is trading above its 50-day average but below the 200-day average, suggesting mixed near-term and long-term momentum. The RSI, hovering around the 50-level, indicates a balance between bullish and bearish pressure, with no clear overbought or oversold conditions. Traders might look to these metrics to gauge short-term volatility and potential breakouts.

Backtest Hypothesis

To evaluate ALGO’s historical performance during sharp price corrections, a backtesting strategy could be designed to analyze how the token behaves following a 10% intraday decline. This involves identifying specific historical instances where ALGO fell 10% within a 24-hour window between 2022 and 2025, then measuring the subsequent price reaction over defined timeframes (e.g., 1 day, 5 days, and 30 days). The strategy would track key metrics such as mean return, volatility, and drawdowns to assess the statistical likelihood of a recovery or further decline.

By isolating such price events and analyzing the asset’s response, the backtest aims to provide a clearer picture of ALGO’s resilience or fragility in times of market stress. This could inform more sophisticated trading or hedging strategies, particularly for investors looking to manage risk during periods of heightened volatility. Given ALGO’s mixed short- and long-term performance, the results of this backtest could offer valuable insights into its potential behavior under future market conditions.