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Arweave price is up 10% in the last 24 hours, with trading volume increasing by almost 120%.
It comes as overflows from the bitcoin (btc) rally continue to bode well for altcoins, with AR among the beneficiaries.
Arweave is a decentralized storage cryptocurrency that operates as a network committed to providing an avenue for indefinite data storage. promoted As “a collectively owned hard drive that never forgets,” the Arweave network primarily hosts a decentralized, permanent web with multiple community-driven applications and platforms, also called the “permaweb.”
Like the Solana network’s Breakpoint meetup, the Arweave ecosystem also had its own meetup on October 30, dubbed the Hyd meetup, as the network met with the Hyderabad DAO. It took place in India and a wide range of quality questions arose related to understanding and building Arweave.
I absolutely loved the @hyderabaddao x @arweaveindia meet up! Tons of quality questions related to understanding and building Arweave
We hope to see you all at the bootcamps and hacker house! https://t.co/qZBM6jVA8M
— ropats16 (, ) ᵍᵐ (@ropats16) October 30, 2023
Meanwhile, the Arweave ecosystem has been doubling down on development efforts, deliberately working on AR smart contracts. They are known to form the nervous system of blockchain networks.
If you think, smart contracts in @ArweaveEco They work just like their EVM counterparts, but with TypeScript, so you might want to read my new article.
Smart contracts in Arweave
(@warp_contracts, @mem_tech, @soloarweave )https://t.co/xH2iH8mAKG
— Full stack interface (@fllstck_) October 26, 2023
For the Arweave ecosystem, there is the SmartWeave contract standard, where customers can execute SmartWeave contracts. This means there are no gas costs, because the nodes do not need to run anything to provide a service.
Arweave Price Forecast as AR Faces Critical Supply Barrier
After a 60% rise since October 20, Arweave price is facing a supply barrier (supply zone), extending from $5,888 to $6,159. To confirm its northward movement, AR must surpass the midline or middle threshold of this order block at $6,016.
A sustained uptrend could send the cryptocurrency further north, with the most logical targets being the psychological levels of $7,000 and $8,000, respectively.
The altcoin enjoys solid downside support, with the three exponential moving averages (EMAs) following the Arweave price from below and acting as support levels. Furthermore, the Relative Strength Index (RSI) is well above the 50 level, and the Awesome Oscillator (AO) is also moving in positive territory while displaying green histogram bars. This strengthens the case for continued northward movement.
Investors who want to open new long positions in AR should wait for Arweave price to confirm a move above the median threshold of $6,016. Such a move would make the order block a bullish breakout factor.
Instead
If the supply zone holds as a resistance level, Arweave price could face rejection. The selling pressure resulting from this supply barrier could cause AR to fall below the immediate support offered by the 200-day EMA at $5,652.
Further south, the decline could extend until Arweave price breaks the psychological level of $5,000, potentially extending a bearish leg to test the support confluence between the horizontal line and the 100-day EMA at $4,672.
In the most severe case, the load shedding exercise could cause Arweave price to break below the 50-day EMA at 4.419, before testing the demand zone, which extends from $4.003 to $3.749. A break and close below the midline of this order block at $3.868 would invalidate the bullish outlook. The subsequent move could set the pace for AR to gather buy-side liquidity lying below the $3,756 support floor.
As Arweave faces the supply zone, traders are flocking to a new cryptocurrency pre-sale, BTCMTX. It is scheduled to launch soon and analysts predict a tenfold growth potential for early investors.
Promising alternative to Arweave
BTCMTX is the native cryptocurrency of the bitcoin Minetrix ecosystem, the reference platform for anyone who wants to own bitcoin.
In #BitcoinMinetrixwe are democratizing mining, guaranteeing security and easy access to the lucrative world of btc?src=hash&ref_src=twsrc%5Etfw”>#btc.
With cloud mining and staking, we put control of the mining process in the hands of the user. pic.twitter.com/p5bDqkysOg
—Bitcoinminetrix (@bitcoinminetrix) October 28, 2023
It is a mine stake project that promises high returns, which explains why traders are flocking to buy the BTCMTX project. It gives them an entry into the bitcoin ecosystem at affordable prices and with guaranteed security. Specifically, the project has decentralized and tokenized the btc mining process, eliminating the chances of scams and making it as accessible as possible.
Know the dangers of #CloudMining scams!
Some well-known companies such as #CryptoFantasy & #IDMining have caused skepticism due to questionable practices.
Understanding the risks involved is essential to being able to make informed decisions in the #bitcoin Mining kingdom. pic.twitter.com/ncobCF8MxU
—Bitcoinminetrix (@bitcoinminetrix) October 29, 2023
Investors can purchase BTCMTX for just $0.0113 using the stablecoin ethereum (eth), Binance Coin (BNB), or Tether (USDT). You can also use your bank card to purchase.
However, it is worth noting that the price will increase in just under two days when the next stage (stage 5) begins. So far, pre-sale sales have reached $2.833 million, out of a target of $3.385 million.
Being the first staking cryptocurrency to mine, BTCMTX staking tokens grant mining credits to the investor.
<img decoding="async" class="aligncenter wp-image-453119 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="Minetrix bitcoin Stake for Mining” width=”1111″ height=”289″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2023/10/1698772587_366_Arweave-Price-Forecast-AR-Storage-Bitcoin-Surges-10-But-This.png 1111w, https://insidebitcoins.com/wp-content/uploads/2023/10/BTCMTX-2-300×78.png 300w, https://insidebitcoins.com/wp-content/uploads/2023/10/BTCMTX-2-1024×266.png 1024w, https://insidebitcoins.com/wp-content/uploads/2023/10/BTCMTX-2-768×200.png 768w” data-lazy-sizes=”(max-width: 1111px) 100vw, 1111px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2023/10/1698772587_366_Arweave-Price-Forecast-AR-Storage-Bitcoin-Surges-10-But-This.png”/><img decoding="async" class="aligncenter wp-image-453119 size-full" src="https://technicalterrence.com/wp-content/uploads/2023/10/1698772587_366_Arweave-Price-Forecast-AR-Storage-Bitcoin-Surges-10-But-This.png" alt="Minetrix bitcoin Stake for Mining” width=”1111″ height=”289″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/10/1698772587_366_Arweave-Price-Forecast-AR-Storage-Bitcoin-Surges-10-But-This.png 1111w, https://insidebitcoins.com/wp-content/uploads/2023/10/BTCMTX-2-300×78.png 300w, https://insidebitcoins.com/wp-content/uploads/2023/10/BTCMTX-2-1024×266.png 1024w, https://insidebitcoins.com/wp-content/uploads/2023/10/BTCMTX-2-768×200.png 768w” sizes=”(max-width: 1111px) 100vw, 1111px”/>
These credits can then be redeemed or burned to obtain mining hash power, hence the concept of cloud mining.
Comprehension #CloudMining for $btc
Cloud mining allows people to participate in bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining without owning or maintaining the equipment.
Discover the benefits:
No initial hardware costs.
Minimum experience required.
Passive rewards potential. pic.twitter.com/XktSxqwWoW—Bitcoinminetrix (@bitcoinminetrix) October 29, 2023
Additionally, you can manage all your BTCMTX tokens and mining credits in one place, with the bitcoin Minetrix project featuring an easy-to-use dashboard. The project also has a $30,000 minedrop underway, presented as a shiny competition with up to 10 prize allocations.
You could be among those walking away with $3,000 even as the BTCMTX community commits to rewarding its community with $30,000 in $BTCMTX tokens in total. Get involved early in the bitcoin Minetrix project before its imminent launch.
Visit bitcoin Minetrix to purchase BTCMTX tokens here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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