The AR/USDT pair is currently trading at $16.95 and appears to have completed a full Elliott Wave cycle on the weekly timeframe. With its corrective phase likely behind it, the stage may be set for a new impulsive move. Here’s the technical and fundamental outlook:
Wave Cycle Analysis
1️⃣ Impulse (Wave 1-5): The previous uptrend completed a strong 5-wave structure, signaling a robust bullish phase in AR’s history.
2️⃣ Correction (Wave A-B-C): The corrective phase reached key Fibonacci levels and has likely concluded, forming a strong base above the $15.394-$16.022 support zone.
Key Levels to Watch
Support Zone: $15.394 - $16.022 (weekly basis). This level has acted as a critical demand area during the correction.
Resistance to Break: $25.04 – A breakout above this key level would confirm the start of a new bullish wave.
Fundamental Insights
Arweave (AR) is a decentralized storage network that offers permanent, tamper-proof data storage. Its innovative blockweave technology enables users to store data forever with a one-time fee, setting it apart from traditional cloud storage systems.
Key use cases include:
Web3 Applications: Supporting decentralized apps requiring reliable, permanent storage.
NFT Storage: Ensuring NFT metadata is stored securely and permanently.
Data Archiving: Providing an immutable storage solution for critical information.
As the demand for scalable and permanent storage solutions grows, Arweave’s fundamentals continue to strengthen, potentially attracting more adoption and investment.
Next Move
With strong fundamentals and a completed Elliott Wave cycle, AR/USDT may be on the verge of a new impulsive wave. A confirmed breakout above $25.04 could signal the start of the next major move, aligning with both technical and fundamental strengths.
Conclusion:
AR/USDT is positioned at a critical juncture, supported by strong fundamentals and promising technical patterns. Keep an eye on the $25.04 resistance level for confirmation of a potential bullish breakout. 🚀
What’s your view on this setup? Share your thoughts in the comments below! 👇
Disclaimer: This is not financial advice. Always conduct your own research before trading.
Wave Cycle Analysis
1️⃣ Impulse (Wave 1-5): The previous uptrend completed a strong 5-wave structure, signaling a robust bullish phase in AR’s history.
2️⃣ Correction (Wave A-B-C): The corrective phase reached key Fibonacci levels and has likely concluded, forming a strong base above the $15.394-$16.022 support zone.
Key Levels to Watch
Support Zone: $15.394 - $16.022 (weekly basis). This level has acted as a critical demand area during the correction.
Resistance to Break: $25.04 – A breakout above this key level would confirm the start of a new bullish wave.
Fundamental Insights
Arweave (AR) is a decentralized storage network that offers permanent, tamper-proof data storage. Its innovative blockweave technology enables users to store data forever with a one-time fee, setting it apart from traditional cloud storage systems.
Key use cases include:
Web3 Applications: Supporting decentralized apps requiring reliable, permanent storage.
NFT Storage: Ensuring NFT metadata is stored securely and permanently.
Data Archiving: Providing an immutable storage solution for critical information.
As the demand for scalable and permanent storage solutions grows, Arweave’s fundamentals continue to strengthen, potentially attracting more adoption and investment.
Next Move
With strong fundamentals and a completed Elliott Wave cycle, AR/USDT may be on the verge of a new impulsive wave. A confirmed breakout above $25.04 could signal the start of the next major move, aligning with both technical and fundamental strengths.
Conclusion:
AR/USDT is positioned at a critical juncture, supported by strong fundamentals and promising technical patterns. Keep an eye on the $25.04 resistance level for confirmation of a potential bullish breakout. 🚀
What’s your view on this setup? Share your thoughts in the comments below! 👇
Disclaimer: This is not financial advice. Always conduct your own research before trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.