Arweave, serves as a decentralized storage network that aims to offer an unlimited data storage platform.
Officially launched in June 2018 by Sam Williams and William Jones.
Arweave’s primary objective is to ensure the collective ability to store and share information between individuals to new generations.
In March 2020, Arweave announced that it had received $ 8.3 million in funding from Andreessen Horowitz, Union Square Ventures and Coinbase Ventures.
Gained strong attention from investors after Arweave was listed in Binance on 14 May 2021.
Following that, Arweave started a consistent jump on July 21, 2021, producing a 960% jump by hitting the latest all -time high (ATH) of $ 74.40 on September 10 last year.
Meanwhile, examine the current movement chart of the AR/USDT price.
Having recorded the latest ATH, AR was unable to maintain consistent price movements until it shrank back by almost 55% in tandem with the fall of Bitcoin.
However, since yesterday’s trading session until today, AR exhibited a 56% jump reaching a high of $ 53.00.
The next expectation is that the $ 52 SBR (support become resistance) zone will be the focus to be tested before making a higher jump if the AR remains positive.
Meanwhile, the $ 44 RBS (resistance become support) zone is the next target to be retested before making a decline to a lower level if AR shows a bearish pattern.
The zone is the risk zone before the AR declines to the support level.
At the time of writing, AR is trading around the $ 50 price jumping over 27% in 24 hours. The coin is currently at 66th chart in the crypto market.
