Arcblock cryptocurrency surges by 64% in just one month: Could $4.12 be the next milestone?

  • Exciting news! Arcblock crypto has experienced a whopping 64% surge in price over the past 30 days.
  • The market for this token is filled with bullish momentum.

ABT, the native token of Arcblock crypto, a platform geared towards simplifying the development of decentralized applications (DApps), is gearing up for further gains as the bullish trend gains strength.

Currently, the altcoin is valued at $3.76, marking a significant 20% surge in the last 24 hours. Over the past month, ABT’s price has skyrocketed by a staggering 64%, as per CoinMarketCap’s data. 

The Ride to Success

A thorough examination of ABT’s price movements on a daily chart by AMBCrypto has revealed strong indications of a sustained price rally in the near to medium term. 

Key momentum indicators for the token are currently sitting above their respective center lines, pointing towards heightened buying activity.

For instance, ABT’s Relative Strength Index (RSI) stands at 68.97, while its Money Flow Index (MFI) is firmly in the overbought territory at 89.75.

With these figures, market participants are showing a preference for accumulating ABT rather than selling off their holdings.

Additionally, the Chaikin Money Flow (CMF) is at 0.22, indicating ample liquidity in the market to support the ongoing price surge.

Confirming the current bullish trend, the dots of ABT’s Parabolic SAR are positioned below the coin’s price at present.

This particular indicator helps identify potential trend direction and reversals. When the dotted lines lie beneath an asset’s price, it signifies an uptrend in the market.

Traders see this as a positive signal that the asset’s price is on the rise and may continue in that direction. 

Adding weight to this momentum is ABT’s Elder-Ray Index, consistently registering positive values since April 30. 

This indicator gauges the balance of power between ABT buyers and sellers in the market. When the value is positive, it indicates bullish dominance in the market.  

ABT 1-Day Chart

Source: ABT/USDT on TradingView

Discover Arcblock’s [ABT] Price Prediction 2024-25

Destination: Success

If the bullish trend continues, the token might reach a trading value surpassing $4 at $4.12.

ABT 1-Day ChartABT 1-Day Chart

Source: ABT/USDT on TradingView

However, if profit-taking activity intensifies and the bullish trend falters, the token’s price may dip towards $3.4 or even $3.1.  

Next: Bitcoin ‘starting to look scary bullish,’ $90K not far away: Analyst

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