Aragon (ANT) coin broke its all-time high in August 2020. The cryptocurrency has been surging long before the bull run began in the market. However, the bulls calmed down as the year ended. Aragon tried to reach towards its all-time high but failed to retest the strong support level every time. The market for Aragon crypto took a positive up turn as the cryptocurrency surged upwards. At the time of writing, Aragon (ANT) is trading hands at $9.32 apiece – the new all-time high.
The price of the cryptocurrency observed a 30% increase in the past 24 hours. The daily trading volume increased by a whopping 840%. With a market rank of 131, the market capitalization of Aragon is increasing.
Technical analysis
The market outlook for Aragon crypto is bullish with technical indicators giving out a signal of buy. Ten of the technical indicators stand at a neutral position while sixteen are giving out a buy indication with zero indications of sell. The oscillators are neutral while the Moving Averages are giving out an indication of strong buy.
Traders, too, are bullish on the cryptocurrency as most are suggesting a long position on the cryptocurrency. A trader – Guapeva – has identified a cup and handle formation in the price action of Aragon (ANT). The cup and handle formation is a bullish pattern which indicates an upward trend of prices. The formation of the figure has been completed and the price action has validated the figure.
The cryptocurrency is close to touching the first target price at the Fibonacci level of 1 at $10.36. The next price target for Aragon lies at the Fibonacci level of 1.618 or the price level of $22, followed by $62 at 2.618 Fibonacci level and finally $174 at 3.618 Fibonacci level. The Stochastic Relative Strength index (RSI) and Moving Average Convergence/Divergence (MACD) are turning bullish.
With the unique offering of the cryptocurrency and the technical analysis, there is a good possibility of the continuation of the price uptrend. Aragon can reach toward higher highs in the coming days and can possibly establish a new all-time high.
What is Aragon (ANT)?
The project was launched by Aragon Foundation in 2017. Aragon is a decentralized app based on the block chain of Ethereum which allows users to create decentralized organization. The native token of the network is the Aragon crypto (ANT) which is utilized for governance decisions on the platform. Through the cryptocurrency, ANT, users can vote and take part in key decisions on the network.
