Parabolic

Strong

Million

Arweave

Billion

<ul class="list-ic vertical"> 
 <li> 1 <a>Arweave crypto was currently trading close to its annual high and a psychological threshold of $50 indicating a potential for a breakout.</a> </li> 
 <li> 2 <a>Last month, there was a 20% MoM increase in the total number of transactions, from 5 billion to 6 billion, reflecting an acceleration in the platform’s growth.</a> </li> 
</ul> 
<a href="https://www.thecoinrepublic.com/2024/05/18/arweave-crypto-will-it-hit-the-50-threshold-by-mays-conclusion/" target="_blank" rel="noreferrer noopener">Arweave crypto</a> has delivered a robust performance in the previous week despite increased volatility in the broader market. The crypto gained over 9.78% in a week and over 22% over the month. The recent surge has propelled the price near the annual highs and the psychological resistance of $50. 
At the time of writing, the crypto was hovering close to $43 recording a swift intraday loss of 0.6%. Investors are on the lookout for a surge past the psychological $50 mark. 
The recent positive developments in the crypto space suggest that Arweave could soon experience a significant breakout, potentially surpassing the anticipated resistance level of $50. 
<h2 class="wp-block-heading" id="strong-parabolic-growth-in-the-number-of-transactions-strong">Parabolic Growth in the Number of Transactions!</h2> 
As per a tweet by Rendoshi Tokamoto, there has been a remarkable growth across various Arweave metrics like number of transactions, protocols, user engagement etc. The number of protocols jumped to 2.68K recording a 130.4% growth YoY. 
<center>
 <blockquote class="twitter-tweet">
 1. Parabolic growth Growth across all Arweave metrics has been parabolic. In May total transaction grew by +20% MoM from 5B to 6B, indicating growth is accelerating. <a href="https://t.co/dYeCt1MkRK">pic.twitter.com/dYeCt1MkRK</a>— Rendoshi Tokamoto 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b55.png" alt="⭕" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Rendoshi1) <a href="https://twitter.com/Rendoshi1/status/1797237688229142893?ref_src=twsrc%5Etfw">June 2, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center> 
Furthermore, the number of transactions were recorded as 5.8 Billion showing a 586.7% growth on a year basis. whereas, the user engagement has reached 1.25 Million recording a 35.2% YoY growth. 
All these metrics suggest that parabolic growth is imminent. 
<h3 class="wp-block-heading" id="strong-are-bulls-strong-enough-to-surpass-50-strong">Are Bulls Strong Enough to Surpass $50?</h3> 
The recent price action reveals that the crypto has been riding a bullish wave in the short term breaking out of a correction phase. on the lower side, the bulls are holding firmly near the 50 day EMA and a positive trendline support. 
On the higher side, the $50 level has been acting as a strong hurdle and preventing further growth in the price. The volume inflow has surged by 6.35% to $78.40 Million.  
<a href="https://in.tradingview.com/chart/ARUSD/keGh3Vsx-Arweave-Crypto-Near-Annual-Highs-A-Major-Breakout-On-The-Horizo/"> </a> <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a> &nbsp; <a href="https://in.tradingview.com/"> </a>  
Now, until the price hovers below the $50 level, it may face a risk of consolidation or correction in the short term. On the other hand, if volume inflow rises and the crypto breaks above the $50 level, it may indicate a bullish continuation and the crypto may show gains.&nbsp; 
The MACD and RSI were hovering in a bullish zone and are leaving a positive note about the further trajectory as of now. The MACD line was above the zero line whereas the RSI line was above the mean line. 
<h4 class="wp-block-heading">Conclusion</h4> 
Arweave crypto has been bullish, gaining 9.78% a week, and a 22% a month. Currently at $43, the crypto is nearing its annual high and the $50 resistance. The crypto is poised for a breakout, backed by a 130.4% increase in protocols and a 586.7% surge in transactions year-over-year.&nbsp; 
Moreover, The short term bullish trend is supported by technical indicators like MACD and RSI, suggesting a potential rise above $50 if the current momentum continues and trading volume increases. However, the crypto may face the possibility of short-term consolidation or correction below this level.

Arweave Crypto Near Annual Highs: A Major Breakout On The Horizon

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Thecoinrepublic.com

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