Cryptocurrency costs did reasonably properly final week as traders embraced a risk-on sentiment within the monetary market. Bitcoin jumped to above $67,000 for the primary time in over a month whereas BitBot continued its token sale, elevating tens of millions of {dollars}. This text focuses on BitBot, Floki, and Arweave.
Arweave value forecast
Arweave is among the greatest gamers within the net 3 trade with a market cap of over $3 billion. It’s disrupting the web storage trade by offering everlasting storage options for builders. Builders may launch good contracts that deal with transactions inside seconds utilizing its Warp know-how.
Arweave’s value has completed properly previously few weeks because it defied the gravity that we’ve seen within the crypto trade. It jumped to a excessive of $50 final week, its highest stage since January 2022. It has soared by over 1,150% from its lowest level in 2023. Most lately, it has jumped for 4 straight weeks.
Turning to the weekly chart, we see that the AR token value has been in a powerful bull run previously few weeks. It has remained comfortably above the 50-week and 25-week Exponential Transferring Averages (EMA).
It’s now hovering at $48, its earlier highest level this yr, which means that it’s forming a double-top sample, a preferred bearish signal. Arweave can be nearing the 50% Fibonacci Retracement stage.
Due to this fact, whereas Arweave’s token value outlook is bullish, patrons should now transfer above the essential resistance stage at $49.70. If this occurs, the subsequent level to look at would be the 61.8% retracement level at $60.
Floki value prediction
Like Arweave, the value of Floki has defied gravity previously few weeks. It jumped to a excessive of $0.0002290 final week, its highest swing since April 2nd. At its highest level this month, the token was up by 105% from its lowest level on April thirteenth.
Floki Inu has now pulled again and moved under the 38.2% Fibonacci Retracement stage. It has additionally remained above the 50-day and 25-day shifting averages and the decrease facet of the Andrews Pitchfork device.
Due to this fact, the outlook for Floki is impartial for now. A break under the pitchfork device will level to extra draw back, with the subsequent level to look at being at $0.00018. The choice is the place it rebounds and retests final week’s excessive of $0.00022.
BitBot evaluation
The opposite notable cryptocurrency is BitBot, which has already raised over $3.5 million from world traders. BitBot is an organization that seeks to alter the buying and selling trade by leveraging the ideas of technical evaluation and synthetic intelligence (AI).
It is going to be a complete buying and selling bot that anybody can use to commerce cryptocurrencies like Bitcoin, Ethereum, and Solana. The app can be distributed in Telegram, a number one social media platform with over 900 million customers globally.
In contrast to different buying and selling bots, BitBot may have a number of essential options. First, will probably be a non-custodial bot, which means that the builders won’t have entry to your funds. Second, holders of the $BITBOT token may have entry to extra staking rewards. Third, these holders will participate in its governance. You should purchase the BitBot token right here.
