Arviv (AR) price has risen 9% in 24 hours, likely influenced by Bitcoin’s rise, and is up nearly 65% in 24 days. BTC has surpassed $69,500 amid a positive crypto market. With BTC surpassing $69,500, the entire crypto market cap has risen to $2.48 trillion, up 3.09% in a day.
ARThe gains were in line with a 7% increase in market cap on the day, taking it to No. 4 on the global cryptocurrency list. Meanwhile, the token’s market cap has also risen 7% to $2.155 billion in the past 24 hours.
Likewise, its 24-hour volume on the spot also rose by 4.62% across all trading platforms, amounting to $45.301 million. Despite the surge, its liquidity status is weak at the time of writing, where the 24-hour volume to market cap ratio stands at 2.11%.
Tokenomics shows that 65.65 million AR (99.47%) are in circulation among people out of a total supply of 66 million AR.
An Analytical Look at AR Price Growth
Augmented reality is expected to grow, suggests chat on X (formerly Twitter).
$AR is getting ready https://t.co/a2XYLahxfL pic.twitter.com/0fyu1qPltu
— VeLLa Crypto (@VellaCryptoX) July 29, 2024
According to the analyst @VeLLa Crypto. He illustrated with a drawing that the target was $42.50.
What does Arweave (AR) derivatives data analysis look for?
In terms of derivatives, derivatives volume reached $78.43 million, and open interest showed more open contracts open for the current trend. OI increased by 9.88% to $77.78 million.
Likewise, ARs The 24-hour liquidation data shows that liquidated short positions exceed liquidated long positions. This indicates bullish potential for the price of Arweave (AR). Similarly, liquidated short positions are $112.41K while long positions remain at $14.92K.
What is the lowest and highest price of AR?
According to TradingView, Arweave hit an all-time low (ATL) of $0.4870 on May 1, 2020. From that low, the current price has risen by 6,000%. Similarly, on the daily chart, the all-time high (ATH) of $91.11 was recorded on November 1, 2021. Compared to that, CMP has fallen by almost 60%.
Reading an Arweave chart
Arviv (AR) the price has been in a wedge for almost 152 days. The price tried to break through the upper channel border and the resistance zone of $46.10-$49.10 4 times. However, it failed and fell to the lower channel border, to the support zone of $25.10-$20.10.
However, in response to the broader market, a bullish period ensued, and from July 5 AR moved again to the upper boundary of the channels.
As for the indicators, the EMA bands are supporting the price, MACD was at 0.2528 and RSI was at 60.11.
Thus, if the momentum continues, the price could rise, with hurdles being at $35.10 and $39.10 respectively.
However, a slowdown in growth will change the situation, and the price may reach support levels of $25.10 and $20.10, respectively.
