Arweave (AR) Token Market Cap Surges to $2.08B, Signaling Bullish Momentum

Over the last few days, the market cap of the Arweave token has consistently advanced. It surged to $2.08B, and the token ranked #47 as per CoinMarketCap.

The market cap of the Arweave token has consistently advanced over the last few days. It surged to $2.08B, and the token ranked #47 as per CoinMarketCap.

Price Overview Chart of AR | Source: CoinMarketCap

Related articles

In the last 24 hours, the token’s market cap has advanced by 12%, after which a surge of 40% in the value of the traded volume was also recorded. It has resulted in a traded value of $140.64M.

The token has medium liquidity, as 6.83% of the token’s market cap has been traded in the last 24 hours. Also, the circulating supply of the token was 65.652M AR at press time, which was 99.47% of the maximum supply of the token.

Arweave has a strong market presence of 0.09%, and the fear and greed index of the token has been at 69. That indicated greed among the investors, while the supply inflation of the token was very high at 96.0%.

The performance metrics of the Arweave token were very strong, according to ChainBroker. Despite this, the Arweave token’s turnover declined over the last few days.

Arweave Token Derivatives Data Analysis

A surge of 51% in the derivatives trading volume of the token was recorded, resulting in a traded value of $236.30M.

Arweave Token Derivatives Liquidation Chart | Source: Coinglass

Following the surge in the derivatives trading volume, the open interest for AR also advanced by 13.02% in the last 24 hours.

Additionally, the value of the longs liquidated for the token was worth $54.34K. Against this, the value of the shorts liquidated in the last 24 hours was much higher at $359.82K. It showed the dominance of bulls over the token price.

AR Token Technical Analysis

The AR token price has advanced by 50% in the last 10 days. That showed a strong surge in the price momentum of the token.

AR Token Daily Price Chart | Source: TradingView

After declining from the swing high of $49.5 for more than 45 days and losing its value by 60%, the token’s price halted at lower levels.

It formed a base at the lower levels and started to witness buying again. Additionally, a strong change of character level is situated at the level of $30.5, which has been recently taken out.

If the token’s price continues to sustain higher levels, we might see a strong uptrend.

AR/USD Chart by TradingView

The 20-day and the 50-day EMAs are trading in a golden crossover on the daily chart, and the price has broken above them.

The MACD showed neutrality in the token’s trend as the MACD and the signal line traded in a golden crossover. Despite this, both the metrics traded in a negative trajectory.

The RSI further showed a surge in momentum as its value advanced above the 50 level and broke above the 14-day SMA.

Arweave Token Has Shown Bullish Momentum

Arweave token has shown strong bullish momentum, with a 50% price surge in the last 10 days and a 12% increase in market cap over 24 hours.

The token’s liquidity and investor sentiment were high, indicating the potential for sustained upward movement.

The support levels for the AR token at press time were $12.50 and $20.0, followed by the resistances of $36.30 and $49.60.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

The above is the detailed content of Arweave (AR) Token Market Cap Surges to $2.08B, Signaling Bullish Momentum. For more information, please follow other related articles on the PHP Chinese website!