InstaForex

July 5, 2021

Aragon Has The Potential To Be The Leading Open Source Platform

 Aragon is open source software used to maintain and create a Decentralized Autonomous Organization (DAO) on the Ethereum blockchain.


The development of this project aims to increase the use of blockchain technology to corporates for practical use.


The Aragon Network was created in 2016 by Luis Ivan Cuende and Jorge Izquierdo which at the same time they also launched the Aragon Association and Aragon One.


Aragon Network was officially announced to transfer the full power of the ecosystem to token holders through the launch of Aragon v2 at the end of 2020.


Based on the ANT/USDT chart, the ANT price movement is seen to have shown a jump of more than 20% at the end of June to re-test the SBR (support become resistance) zone around $ 3.60- $ 3.80.


Yet at the start of the market this week, it seems that the ANT price did not manage to break the SBR zone of $ 3.60- $ 3.80 and continued to decline again to test the $ 3.60 price level.



If the decline continues, the $ 3.0- $ 3.20 support zone will be re-tested to be evaluated to re-support the price spike.


While lower, the ANT price will continue to break the $ 3.0- $ 3.20 support zone and will make the all-time low (ATL) for the 2021 market movement.


On the other hand if the ANT price continues to be supported with positive sentiment, the price is expected to head to the next SBR level around $ 4.40 and will maintain the bullish trend.


A higher price increase will test the SBR zone of $ 4.80- $ 5.0 and the resistance level of $ 5.50 before expectations for the ANT price movement to continue making more aggressive jumps.


As of 11.30am local time, the ANT price is down more than 3% to trade at a price level of around $ 3.60.