Arweave has been on a roll ever since it first became public. From its revolutionary idea to store the history of mankind permanently, the technology of data storage backing it up also influenced many people worldwide in its ambitions. The heavy accumulation of Arweave tokens this year also suggests that the faith in this idea will have long-term effects. This is also emphasized because it currently holds the rank of #80 in the top cryptocurrencies in the world. But is the huge volatility it has been going through for the past two months an excellent chance for going bullish trend on AR token. Let’s find out the long-term Arweave price prediction and learn more about the Network.

Arweave Overview

Cryptocurrency Arweave
Ticker Symbol AR
Price $17.35
Price Change 24h +10.54%
Price Change 7d +10.68%
Market cap $470,653,630
Circulating Supply 33,394,701 AR
Trading Volume $30,299,234
All time high $90.94
All time low $0.4854
Arweave ROI +14938.84%

Those who win wars can rewrite history, not so with Arweave protocol. This new technology aims to provide permanent storage solutions for its users while using the decentralized architecture to eliminate the risk of deletion. By matching people who need to store data with those who have storage space, it creates a sustainable network for information preservation. This information will leverage blockchain technology and use permaweb at the core of its architecture.

What is Arweave coin?

The official website of Arweave Network says that it is a protocol that allows a user to store data permanently, sustainably with a single upfront fee. Using a decentralized network it operates similar to how Uber connects drivers with the people who need transport. The Arweave protocol essentially matches people who need to store their data permanently with individuals or organizations with some free hard drive space.

The Arweave protocol creates a permaweb structure like a global, permanent web of pages and applications stored indefinitely. The permaweb is maintained by its community members, who can contribute or get paid for maintenance. The permaweb is not different when compared with the standard web. All of the content on permaweb, from images to text, is permanent, retrieved quickly, and decentralized forever. The network uses AR tokens for its governance, and it is entirely community-owned. It also operates as an open-source network. The community has built a complete set of comprehensive tools and services that enables a user to launch completely decentralized services on top of the permaweb.

The Technology behind Arweave

The Arweave protocol is powered by a technology called Blockweave. What sets it different from other blockchains is that its blocks are linked to multiple previous blocks from the network. This blockchain-like structure allows the network to enforce that miners provide proof of access to old data to add new blocks.

The data archiving is a new standard being set by the Arweave. Through decentralization, the Arweave will be able to retain all of the information of its permaweb. No historical information of the Arweave Network could be deleted. In short, it allows history to be permanently stored while ensuring the authenticity and integrity of the content.

Current market status of Arweave

The cryptocurrency market is quite optimistic about the future of Arweave (AR) coin. It offers an entirely new data storage mechanism for users like activists and journalists. The storage is sustainable, and the transparent economics allows users to perpetuate the replication of information forever. To understand the economics of Arweave, assume that when some data is added to its network, the user pays a principal amount in AR, on which interest in the form of storage purchasing power is accrued. Over time, the interest on this one-time payment is given to those users who collectively owned hard drive for storing that data and thus make some profits by contributing to the network. It also features content moderation since the potential abuse of the permaweb will, in all likelihood, cause the system to fail. When the user submits a transaction to its network, the Arweave data storers choose to replicate the associated data. If the storers believe that the content should not have been duplicated because it might be inappropriate, they can deny the request. Users can also submit a request on their website if they find any inappropriate content found on the permaweb.

Arweave Technical Analysis

Since the beginning of the last year, the price action of Arweave marked a significant bull run. However, these price levels were not sustained over the next few months as the AR price gradually declined in a downward trend. This gradual decline took the current price of Arweave cryptocurrency below its 50 days moving average to date.

AR Price Prediction

The price of Arweave started a bull run after heavy crypto market participation in August 2021, sending the price more than 400 percent upwards. This increased the volatility, and the Arweave AR price remained highly volatile till the end of the last year. The Accumulation/Distribution Indicator doesn’t show any significant accumulation as of now, but it should be noted that most of the expansion happened in the first quarter of the last year. So, compared to the relative price growth of the last year, the current accumulation is not that huge.

Arweave price forecast

The Bollinger Bands analysis shows that high volatility was encountered from the beginning of the last August till December 2021. In the first quarter of the last year, the Arweave AR price was trading sideways, and colossal market participation pushed the price upwards, creating an uptrending crypto market from January to April with its price changes. After that, the AR price shot upwards again on high volatility was in August, when the RSI indicator started making an overbought signal. It should be understood that the Relative Strength Index (RSI) is best used in a sideways trending Arweave cryptocurrency market, so it is still tough to say whether or not the price will remain stable for some time. The current RSI level doesn’t indicate any oversold or overbought signals, so for the time being, it is prudent to wait. It will be a better strategy to long or short based on the resistance level for the Arweave. The resistance level is $35 and the support level is $31.