Long

Momentum

Arweave

<ul class="list-ic vertical">
 <li>1 <a>Arweave (AR) saw a rounding bottom formation, which may skyrocket soon.</a></li>
 <li>2 <a>Buyers have regained momentum and are looking to cross the $50 mark.</a></li>
</ul>
The Arweave (AR) crypto is all set for a major blast and looks bullish on the charts. Recently, the AR crypto price has reverted from its support mark of $25, near the 100-day EMA.
Afterward, buyers stretched the rise and delivered a sharp surge of over 70% last month. Moreover, the <a href="https://www.thecoinrepublic.com/2023/09/28/weir-stock-price-stock-price-has-been-rated-bullish-by-bloomberg/" target="_blank" rel="noopener noreferrer nofollow">crypto has retained</a> the bullish trajectory and is ready for a significant blast.
At press time, Arweave crypto (AR) price traded at $42.09 with an intraday gain of 3.26%, reflecting bullishness on the charts. It has a monthly return ratio of 36.37% and 533.20% yearly, reflecting short-term bullish momentum.
The pair of AR/BTC is at 0.000688 BTC, and the market cap is $2.75 Billion. Analysts are bullish and suggest that the Arweave price may register a sharp breakout above the $50 mark and will deliver a rally soon.
<h2 class="wp-block-heading" id="strong-rounding-bottom-formation-on-the-cards-what-s-next-strong">Rounding Bottom Formation On The Cards: What’s Next?</h2>
On the daily chart, the Arweave crypto (AR) price has reached the upward trajectory zone and is eyeing to breach the round mark of $50. The majority of key indicators are suggesting a rally ahead. 
<a href="https://www.tradingview.com/chart/ARUSDT/fhU09TUE-ARWEAVE-Price/" rel="noopener noreferrer nofollow">ARWEAVE Price</a> by <a href="https://www.tradingview.com/u/TheCoinRepublic/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow"></a> 
Source: TradingView
The price action highlights the rounding bottom formation, and the AR crypto is ready to shine the gains soon. A break and close above $50 validate the breakout, and a much-awaited rally is anticipated.
The intraday trading volume jumped over 46.35% to $130.55 Million, signifying buying pressure on the charts. The Momentum Indicator (Relative Strength Index) curve stayed in the overbought zone, and a positive divergence was noted on the charts.
<h3 class="wp-block-heading" id="strong-futures-oi-data-highlights-long-buildup-strong">Futures OI Data Highlights Long Buildup</h3>
This week, fresh long additions were made, and the open interest spiked over 2.28% to $117.16 Million, revealing the buyer’s willingness to enter before a breakout.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="231" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-138-1024x231.png" alt="Arweave " class="wp-image-205314" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-138-1024x231.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-138-300x68.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-138-768x174.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-138-750x170.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-138-1140x258.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-138.png 1407w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
Source: CoinGlass
<h4 class="wp-block-heading">Sharpe Ratio</h4>
The Sharpe ratio indicator witnessed a positive outlook, as the curve showcased a consistent up move and crossed the $2 mark, reflecting a buy signal.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="514" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139-1024x514.png" alt="Arweave " class="wp-image-205315" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139-1024x514.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139-300x151.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139-768x385.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139-1536x771.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139-750x376.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139-1140x572.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-139.png 1550w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
Source: Messari
Per the Fibonacci retracement levels, the Arweave price has crossed the 61.8% zone and is close to the upper Bollinger Band.&nbsp;The immediate support levels for the Arweave crypto are $40 and $38, whereas the critical upside hurdle is around $50, followed by $58
<h3 class="wp-block-heading" id="strong-conclusion-strong">Conclusion</h3>
The Arweave crypto (AR) price surpassed the key moving averages and reached the $50 mark. Moreover, the trend guides strong bullish momentum, and buyers look aggressive.
<h4 class="wp-block-heading">Disclaimer</h4>
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;

Arweave (AR) Is On The Verge Of Breakout: Can Bulls Succeed?

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