FxWirePro- ARUSD (Chart of the day)

Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to store data forever truly.

Proof of Access- Arweaves consensus mechanism is based on Proof of access (PoA) and proof of work (PoW). In proof of access, miners do not need to store entire blocks, but it can store any blocks can store any previous blocks, incentivized by PoA and wildfire, forming a weave of blocks, a block weave.

Features-

Transactions per second 1000

Block time- 2 min

ARUSD performed well in the past two days

Any daily close above $50 confirms further bullishness.

ARUSD has gained more than 10% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $41.49 and is currently trading around $41.04.

The bullish invalidation can happen if the pair closes below $21. On the lower side, the near-term support is $36. Any break below targets $30/$26.

The immediate resistance stands at around $50. Any breach above confirms bullish continuation. A jump to $62/$70 is possible. A surge past $70 will take it to $90/$100.

It is good to buy on dips around $40 with SL around $35 for TP of $70.

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