Bullish Pennant Is a Sign of a Potential Advance

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The Arweave price pre­dic­tion indi­cates that there is a high poten­tial of the token con­tin­u­ing its bull­ish con­tin­u­a­tion move, fol­low­ing the for­ma­tion of a bull­ish pen­nant pat­tern. The AR/USDT cryp­to pair hard­ly made any move in the last few days, but it could be prim­ing itself for a big move once the cur­rent dust in the cryp­to mar­ket settles.

Air­weave is a blockchain pro­to­col that enables long term stor­age of his­tor­i­cal and cur­rent data, mak­ing it impos­si­ble for cen­tral­ized enti­ties to poten­tial­ly con­trol or dis­tort this data. It costs about $30 a GB to store data on this pro­to­col, but these are one-time payments. 

The pay once, store for­ev­er net­work is becom­ing pop­u­lar among cryp­to enthu­si­asts. Arweave cur­rent­ly main­tains a blockchain bridge with Solana (SOLAR), which stores all its data on the chain. 

Arweave Price Prediction

The evolv­ing bull­ish pen­nant on the dai­ly chart points to the poten­tial for a bull­ish con­tin­u­a­tion of price action. Price activ­i­ty has just bounced off the pennant’s low­er bor­der. It has to con­tend with poten­tial resis­tance bar­ri­ers at 59.9157 (16 Sep­tem­ber and 3 Octo­ber low) and 65.9157 (11 Sep­tem­ber and 9 Octo­ber highs) before the all-time high at 74.5598 comes into view. 

Clear­ance of the lat­ter also con­firms the break of the pen­nant, allow­ing for a poten­tial mea­sured move towards 99.5225. Sev­er­al pit­stops exist along the way: 85.5466 and 91.2824 are the most promi­nent Fibonac­ci exten­sion levels.

On the flip side, a break­down of the pennant’s low­er bor­der inval­i­dates the pat­tern. This sce­nario cre­ates oppor­tu­ni­ties for the bears to take out the pit­stop at 49.1732 and dri­ve a drop towards down­side tar­gets at 43.6997 and 34.1146. 

Arweave Price Chart (Daily)

Fol­low Eno on Twit­ter.



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