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<p>Two altcoins are experiencing price surges over the past few days. LOOM, the native token of <a href="https://coinmarketcap.com/currencies/loom-network/" target="_blank" rel="noopener noreferrer nofollow">the LOOM Network,</a> and <a href="https://coinmarketcap.com/currencies/arweave/" target="_blank" rel="noopener noreferrer nofollow">Arweave (AR)</a> have caught the attention of investors and traders alike. LOOM has spiked 34% while AR has surged by 26% in the past 3 days.</p>
<h2 class="wp-block-heading" id="strong-loom-network-s-ascending-trajectory-strong"><strong>LOOM Network’s Ascending Trajectory </strong></h2>
<p>LOOM Network’s LOOM price is finally breaking out of a descending channel that has served as resistance for its price ascent since the end of March. The past three days have been green for the token, rising by an impressive 34% within this timeframe.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="464" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-1024x464.png" alt="" class="wp-image-492324" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-1024x464.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-300x136.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-768x348.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-1536x696.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-2048x929.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-331x150.png 331w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-772x350.png 772w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493-788x357.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-493.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>However, for a convincing upward move, we need to see a decisive break above this channel. Following this, the price will have to face another resistance at around $0.104 for a chance to continue the upward trajectory. We have seen the price spike towards this resistance today, but it was rejected. LOOM could try again for a chance to move higher.</p>
<p>It’s worth noting that today’s spike could be part of a move that started three days ago, but we have witnessed more trading volume today, indicating heightened enthusiasm about the breaking descending channel.</p>
<h2 class="wp-block-heading" id="strong-arweave-breaking-out-of-accumulation-strong"><strong>Arweave: Breaking Out of Accumulation</strong></h2>
<p>Arweave (AR) has been spiking because it broke out of a two-month-long accumulation at around $43.6 three days ago and was able to successfully retest yesterday. Now, it looks like the bulls are ready for a bigger move.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="465" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-1024x465.png" alt="" class="wp-image-492332" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-1024x465.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-300x136.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-767x348.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-1536x697.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-2048x929.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-331x150.png 331w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-772x350.png 772w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494-788x357.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-494.png 1823w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><strong><em>Read Also: <a href="https://captainaltcoin.com/crypto-trader-turns-9-solana-into-1238-sol-in-less-than-5-minutes-with-this-meme-coin/" target="_blank" rel="noopener noreferrer nofollow">Crypto Trader Turns 9 Solana Into 1,238 SOL in Less Than 5 Minutes with This Meme Coin</a></em></strong></p>
<p>The utility around the coin has been driving its price, as highlighted by X account “Sasomis Nigeria”:</p>
<blockquote class="wp-block-quote">
 <p><em>“Arweave is a blockchain-based storage network that enables permanent, decentralized, and sustainable data storage, empowering developers to build robust Web3 applications.”</em></p>
</blockquote>
<p>The account further elaborated on Arweave’s use cases, fundraising efforts, tokenomics, and major projects utilizing the platform, such as Solana and Instagram.</p>
<p><a href="https://x.com/SasomisNg/status/1790860594964267215" target="_blank" rel="noopener noreferrer nofollow">According to the tweet</a>, Arweave’s native token, AR, is listed on top exchanges like Binance and OKX. With a current price of $48.2, a market cap of over $3 billion, and a circulating supply of 65,454,185 AR, the project is said to have “huge upside” with a potential fully diluted valuation of $7 billion.</p>
<p>LOOM Network and Arweave are capturing the attention of investors and traders alike, driven by their respective price movements and underlying utility.</p>
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<p>The post <a href="https://captainaltcoin.com/loom-network-and-arweave-ar-crypto-prices-pumping-heres-why/" rel="noopener noreferrer nofollow">LOOM Network and Arweave (AR) Crypto Prices Pumping, Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

LOOM Network and Arweave (AR) Crypto Prices Pumping, Here’s Why

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