The Algorand price has experienced a significant decline, losing over 90% from its all-time high and its market cap dropping from $12 billion to $2.1 billion. The article highlights several reasons for the crash, including Algorand's struggle to attract developers compared to other blockchain networks like Ethereum, as well as limited adoption and relatively small value locked in its ecosystem. The article also mentions that Algorand's technical analysis suggests a potential rebound, with bullish chart patterns indicating a possible surge in price. The author predicts that the Algorand token may reach a resistance level at $1.4645, around 480% above the current price.



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