Bandora Reserve Federal
The US central bank raised interest rates by another 25 bps on Wednesday (as widely expected), but a less hawkish message from Federal Reserve Chair Jerome Powell strengthened equities and provided support for the cryptocurrency market.
Jerome Powell mentioned that inflation is slowing down, which raised investor hopes that the Fed could pause interest rate hikes in the upcoming March meeting. At the same time, the US economy demonstrated that the jobs market remains exceptionally strong, with the nonfarm payrolls report revealing 517,000 job additions in January.
This figure was almost three times the expected 185,000 additions, and the unemployment rate dropped to 3.4% in January, marking the lowest rate in 53 years.
However, even as inflation decreases, the Fed will face significant challenges in reaching its target of 2%. The strength of the US job market is one reason the Fed may keep interest rates higher for an extended period to combat inflation.
“Whenever we see these big numbers, the fear of the Fed resurfaces because people are likely concerned that the Fed might go even further, risking a hard landing instead of a soft one.”
– Brian Jacobsen, Senior Investment Strategist, Allspring Global Investments
Technical Insights for Arweave (AR)
The price of AR has more than doubled since January 2023, increasing from a low of $6.07 to a peak of $12.85. The current price of AR is $12.25, and as long as the price remains above $10, we can’t talk about a trend reversal. The price is still within the BUY-ZONE for now.
Key Support & Resistance Levels for Arweave (AR)
The chart from April 2022 highlights important support and resistance levels that can help traders predict the price movements. Arweave (AR) is still in the “buy zone,” and if the price breaks above the resistance level at $15, the next target could be around $17.
The strong support level is $10, and if the price falls below this level, it would signal a “SELL” and open the way for the price to drop to $8. If it dips below $8, which is also a significant support level, the next target could be as low as $7 or even lower.
Factors Driving Arweave (AR) Price Growth
Destpêka 2023 has been remarkable for Arweave (AR), and if the price rises above the $15 resistance level, it could target $17. Arweave co-founder and CEO Sam Williams noted that Arweave saw its highest-ever monthly transaction count in January, with over 58 million transactions.
Indicators of a Potential Decline for Arweave (AR)
Arweave (AR) has ji %100 zêde bûye since the beginning of January, but traders should remember that the price could easily retrace to levels seen in December 2022. The primary support level for AR is $10, and if the price falls below this level, the next support target may be at $8.
The price of Arweave (AR) is also closely tied to Bitcoin’s performance, and if Bitcoin drops below the $20,000 mark, it is likely to negatively impact the price of AR.
Ramanên Pispor û Pêşbîniyên
Sam Stovall, Chief Investment Strategist at CFRA Research, suggested that despite the rally in both stocks and cryptocurrencies, history indicates that there could still be more upside potential pêşve.
On the other hand, Yuya Hasegawa, a crypto market analyst at Bitbank, a Japanese bitcoin exchange, cautioned that while the market is currently bullish, it isn’t yet ready for a major rally, and there may be another pullback before the next upward movement.
