Before the web3 cycle kicks off, let's look at Internet Computer (ICP), Arweave (AR), and Flux (FLUX) to find the most profitable one. Read more!
If you are clueless about web3 and how it differs from its predecessors, check out our video below!
ICPUSDT on a 1-Day Chart
ARUSDT on a 1-Day Chart
Arweave (AR) has picked up some demand at $29.420, this can be seen by the wick from today. Providing price can hold above this demand zone, it is likely to retest $33.5 resistance. Ideally, AR would flip this area allowing bulls to look for higher prices. It does seem to be consolidating and holding well, potentially for a move back up (providing BTC performs well). There are also plenty of positive daily RSI divergences showing that buyers are present. However, if the price does break below the demand zone, it will likely test $25.5.
FLUXUSDT on a 1-Day Chart
FLUX is also in a clear downtrend. It needs to flip 1.473 to be able to start a leg up. If the token dives below this level, it may move to the lows at 1.138. However, it seems like an extremely strong support level. Therefore, if buyers are present in the market, they should show up and defend this zone. If sellers do manage to break this level, it is likely that FLUX will move down to $0.5.
With all three coins struggling to find confident buyers due to Bitcoin price action, it is good to compare them. This helps to gain a better outlook on which coin will lead the Web3 market when prices start to trend up.
ICP/AR on a 1-Day Chart
The token is currently breaking below the midrange, showing the AR bulls' intentions will outperform ICP bulls. If the price cannot regain support, testing the range low at 0.48 is likely.
If it can reclaim this support zone, it is plausible that it will be able to move to 0.75 next.
This would infer that ICP is likely to outperform AR, however, with continuous rejections at the 50 RSI level, it is likely that the price may hit the lower level in the foreseeable future.
ICPFLUX on a 1-Day Chart
ICP bulls are currently trying to flip the 12.51 resistance into support. If they are successful, the token will outperform FLUX, at least till the price reaches 13.84.
AR/FLUX on a 1-Day Chart
AR/FLUX looks as if it is breaking to the upside. It has a clear bullish market structure, whilst also being in an uptrend for the past two weeks. The next stop is likely 25, which is a large supply zone. Whether AR bulls have the momentum to get the price above this level could be debated.
- ICP is in a clear downtrend and has been for more than six months. The price looks as if it may test around the $15 level. However, there is a potential for a positive divergence on the daily chart to play out.
- AR reacted perfectly off demand at 29.420, and with plenty of positive daily RSI divergences, the price will look for a new leg up. If the price can flip 33.6, it will move a lot higher.
- FLUX is also in a downtrend. It needs to flip 1.474 to be able to start a leg up.
- After comparing the web3 coins, it can be inferred that AR looks like the best coin to buy and hold, out of the three.
- The entire economy is at a major decision point. With Bitcoin being higher beta to SPX and alt-coins being higher beta to Bitcoin, it is very risky to be longing them right now without being bullish on SPX.