Million

Arweave

Momentum

<ul class="list-ic vertical">
 <li><span>1</span> <a>Arweave (AR) token price is on the verge of a breakout near the $50 mark.</a></li>
 <li><span>2</span> <a>A rounding bottom formation was visible, which might lead to a sharp-up move soon.</a></li>
</ul>
<p>The <strong>Arweave (AR) price</strong> has reached the 52-week high trajectory and is looking bullish on the charts. The token trades in a strong uptrend and is directing bullish momentum.</p>
<p>For weeks, the <strong>AR token</strong> reflected <strong>investor demand</strong> and buying interest was revealed. Additionally, the token persists in forming <strong>higher swings</strong> and is trading beyond the key EMA’s.</p>
<p>At press time, the <strong>Arweave token (AR) price</strong> traded at $43.64 with an intraday rise of 4.10%, reflecting bullishness on the charts. It has a monthly return ratio of 70.20% and a yearly return ratio of 558.27%.</p>
<p>The pair of AR and BTC is at 0.000660 BTC, and the market cap is $2.85 Billion.&nbsp; Analysts have given a strong buy outlook and suggest that the <strong>AR token price</strong> may register a sharp breakout and will soon cross the $50 mark.</p>
<h2 class="wp-block-heading" id="strong-arweave-ar-revealed-buyer-dominance-price-action-outlook-strong"><strong>Arweave (AR) Revealed Buyer Dominance: Price Action Outlook</strong></h2>
<p>The daily charts of the <a href="https://www.thecoinrepublic.com/2023/12/30/arweave-price-prediction-can-ar-succeed-in-flying-above-50/" target="_blank" rel="noopener noreferrer nofollow">Arweave token</a> favor the bull army and suggest a massive blast on the cards, which might unlock soon. The higher-high setup of the token led the token close to its <strong>52-week high mark </strong>of $45, and bulls are eyeing the $50 mark to breach.</p> 
<p><a href="https://www.tradingview.com/chart/ARUSDT/dRFwpclq-ARWEAVE-Price/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/u/TheCoinRepublic/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p class="has-text-align-center">Source: TradingView</p>
<p>Amidst the market ups and downs, the token showed a <strong>consistent up move </strong>and displayed buying interest and <strong>investor speculation.</strong></p>
<p>Arweave token ranked at 39 and has a total supply of 65.45 million. The intraday trading volume rose 67.67% to $222.90 Million, highlighting the bullish sentiment.</p>
<p>The Momentum Indicator (Relative Strength Index) curve stayed in the overbought zone and preferred the breakout ahead.</p>
<h3 class="wp-block-heading" id="strong-surge-in-volatility-and-weighted-sentiment-data-strong"><strong>Surge in Volatility and Weighted Sentiment Data</strong></h3>
<p>The price volatility has fluctuated over the past few trading sessions and is replicating investor speculations.&nbsp;Following the price surge, the volatility chart articulates a rise, implying that sellers are looking in fear and might cover their positions soon.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (AR), Weighted sentiment (Total) (AR)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=solana&amp;pt=SOL&amp;df=2023-11-16T18%3A29%3A59.678Z&amp;dt=2024-05-16T18%3A29%3A59.678Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Barweave%3BAR%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Barweave%3BAR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>The weighted sentiment data stays above the midline, close to 0.727, which indicates a positive outlook.</p>
<h3 class="wp-block-heading" id="strong-futures-oi-data-denoted-long-buildup-strong"><strong>Futures OI Data Denoted Long Buildup</strong></h3>
<p>For weeks, the follow-on price surge and consistent buying interest led to a jump in the OI contracts.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/zkrLu7Mc6weoHBTgFueSQOkY8T0Hq3QsW3dYqQ2Am9fpGmI4FwlaiHtjXsdrS-MWTypXhYkEqbzKJbEVE-9B3RsbP7YRMYbwm8SKsg-iLJdpCfmzL_hyO_h9dgHPyFnzfCsfC3sGvi-h2sncGZ20Faw" alt="">
 </figure>
</div>
<p class="has-text-align-center">Source: coinglass</p>
<p>The open interest data highlights a spike of over 6.98% to $127.16 Million in the last 24 hrs, denoting <strong>fresh long buildup activity.</strong></p>
<h3 class="wp-block-heading" id="strong-rise-in-popularity-strong"><strong>Rise In Popularity&nbsp;</strong></h3>
<p>Amidst the price-up move, the X followers data began to surge and jumped to the 48 mark, denoting a positive outlook.</p> <iframe loading="lazy" title="Santiment Chart: Twitter Followers 7d (AR), Development Activity (AR)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=solana&amp;pt=SOL&amp;df=2023-11-16T18%3A29%3A59.678Z&amp;dt=2024-05-16T18%3A29%3A59.678Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Btwitter_followers_7d%3Barweave%3BAR%5D%3B%5B1%3Bdev_activity%3Barweave%3BAR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>Likewise, the development activity data resembles the same and spiked above the midline region, denoting the <strong>consistent growth</strong> over the past few weeks.</p>
<p>The immediate support levels for the <strong>Arweave (AR) token </strong>are $40 and $36, whereas the key upside hurdle is around $48, followed by $50.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>The <strong>Arweave (AR) price</strong> grabbed the <strong>bullish momentum</strong> and is ready to fly the gains beyond the $50 mark. Amidst the market’s volatile move, the token delivered consistent outperformance and looks bullish on the charts.</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>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;</p>

Arweave (AR) Eyeing $50 Mark: Breakout On The Cards, What’s Next?

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Thecoinrepublic.com

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