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Is Arweave Price Ready To Take A Big Leap Towards The $50 Level?
The post Is Arweave Price Ready To Take A Big Leap Towards The $50 Level? appeared on BitcoinEthereumNews.com. Arweave price made a strong comeback after rising from the demand zone at $21. AR price has surged nearly 56% in just two weeks, indicating a robust performance. AR was exchanging hands for close to $33 at the time of writing, recording a swift 0.71% drop intraday. Earlier in June, AR suffered a strong rejection at the $50 mark and fell sharply to $25 level, losing nearly 50% a month. Furthermore, the recent session displayed a positive development in the social metrics, resulting in a price recovery. Arweave is a decentralized storage network designed for indefinite data storage. It describes itself as “a collectively owned hard drive that never forgets.” The network mainly supports “the permaweb,” a permanent, decentralized web featuring various community-driven applications and platforms. Areweave’s price showcased a robust performance, outperforming several altcoins in terms of recovery. The bulls seem to retain control and might try to reclaim AR’s last month’s price at the $50 mark. Furthermore, the recent price surge seemed to be backed by several factors. It includes a significant development in social metrics and transaction volume. The social metrics like social dominance and social volume curve were headed upwards, suggesting a positive development. The social metrics surged to a three-month high, indicating the increased number of users. Social metrics reflects the number of users engaging with Arweave on social media platforms like X (formerly Twitter), Telegram, etc. Furthermore, the transaction volume surged by 49.05% intraday to $96.72 Million, indicating a heightened demand. However, the volume-to-market cap ratio at 4.65% suggests a low volatility. Can Arweave Reclaim its Presence Near the $50 level? From a technical standpoint, AR surpassed the 20, 50, and 200-day EMAs. It suggested a positive outlook in the short term. The long-term trend outlook reflects a range formation between $50 level on…
The post Is Arweave Price Ready To Take A Big Leap Towards The $50 Level? appeared on BitcoinEthereumNews.com.
Arweave price made a strong comeback after rising from the demand zone at $21. AR price has surged nearly 56% in just two weeks, indicating a robust performance. AR was exchanging hands for close to $33 at the time of writing, recording a swift 0.71% drop intraday. Earlier in June, AR suffered a strong rejection at the $50 mark and fell sharply to $25 level, losing nearly 50% a month. Furthermore, the recent session displayed a positive development in the social metrics, resulting in a price recovery. Arweave is a decentralized storage network designed for indefinite data storage. It describes itself as “a collectively owned hard drive that never forgets.” The network mainly supports “the permaweb,” a permanent, decentralized web featuring various community-driven applications and platforms. Areweave’s price showcased a robust performance, outperforming several altcoins in terms of recovery. The bulls seem to retain control and might try to reclaim AR’s last month’s price at the $50 mark. Furthermore, the recent price surge seemed to be backed by several factors. It includes a significant development in social metrics and transaction volume. The social metrics like social dominance and social volume curve were headed upwards, suggesting a positive development. The social metrics surged to a three-month high, indicating the increased number of users. Social metrics reflects the number of users engaging with Arweave on social media platforms like X (formerly Twitter), Telegram, etc. Furthermore, the transaction volume surged by 49.05% intraday to $96.72 Million, indicating a heightened demand. However, the volume-to-market cap ratio at 4.65% suggests a low volatility. Can Arweave Reclaim its Presence Near the $50 level? From a technical standpoint, AR surpassed the 20, 50, and 200-day EMAs. It suggested a positive outlook in the short term. The long-term trend outlook reflects a range formation between $50 level on…
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