Two altcoins are experiencing price surges over the past few days. LOOM, the native token of the LOOM Network, and Arweave (AR) have caught the attention of investors and traders alike. LOOM has spiked 34% while AR has surged by 26% in the past 3 days.
What you'll learn 👉
LOOM Network’s Ascending Trajectory
LOOM Network’s LOOM price is finally breaking out of a descending channel that has served as resistance for its price ascent since the end of March. The past three days have been green for the token, rising by an impressive 34% within this timeframe.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +However, for a convincing upward move, we need to see a decisive break above this channel. Following this, the price will have to face another resistance at around $0.104 for a chance to continue the upward trajectory. We have seen the price spike towards this resistance today, but it was rejected. LOOM could try again for a chance to move higher.
It’s worth noting that today’s spike could be part of a move that started three days ago, but we have witnessed more trading volume today, indicating heightened enthusiasm about the breaking descending channel.
Arweave: Breaking Out of Accumulation
Arweave (AR) has been spiking because it broke out of a two-month-long accumulation at around $43.6 three days ago and was able to successfully retest yesterday. Now, it looks like the bulls are ready for a bigger move.
Read Also: Crypto Trader Turns 9 Solana Into 1,238 SOL in Less Than 5 Minutes with This Meme Coin
The utility around the coin has been driving its price, as highlighted by X account “Sasomis Nigeria”:
“Arweave is a blockchain-based storage network that enables permanent, decentralized, and sustainable data storage, empowering developers to build robust Web3 applications.”
The account further elaborated on Arweave’s use cases, fundraising efforts, tokenomics, and major projects utilizing the platform, such as Solana and Instagram.
According to the tweet, Arweave’s native token, AR, is listed on top exchanges like Binance and OKX. With a current price of $48.2, a market cap of over $3 billion, and a circulating supply of 65,454,185 AR, the project is said to have “huge upside” with a potential fully diluted valuation of $7 billion.
LOOM Network and Arweave are capturing the attention of investors and traders alike, driven by their respective price movements and underlying utility.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
