Aragon Price Up by 11.84% – Time to Buy ANT Token?

Aragon is known as a popular decentralized autonomous organization (DAO) project based on the Ethereum network and led by Luis Cuende, a Forbes 30 under 30 tech category personality.

Aragon platform allows network participants to create as well as operate various crypto protocols, decentralized applications that serve a specific purpose, and other DAOs. Per its governance protocol, Aragon offers ANT tokens, an ERC-20 based token to project users to govern the.

As DAO projects continue to lead the crypto markets because of their utilities, untapped potential, and consistent growth, Aragon is in the green zone for two weeks straight despite the holiday season bearish market performance.

ANT Tokens Bullish Reciprocation as Bitcoin Charges After Fed Announcement

Last week when Bitcoin prices pushed back $49,000, Aragon was among one of the lead altcoins to reach the breakout point. The reason behind the momentary positive performance in the wider crypto market was due to the Federal Reserve announcement.

On Dec. 15 when Fed Chairman, Jerome Powell announced that 2022 would see an increase in interest rates, Bitcoin surged by almost 1.65% and carried the entire market into a semi-bullish zone.

Around the same time, Aragon’s much-awaited DAO hackathon took place to encourage community engagement for developing governance structures in DAOs. It should be noted that among the popular investors of this project, Tim Draper, venture capitalist and founder of Draper Associates.

ANT Tokens have picked up the bullish signs during the same time as Aragon project is trying to gain more international developers as participants for the DAO Hackathon event. They are also rumoured to conduct a DAOpunks NFT project airdrop for all interested ANT holders. 

But so far, there has been no confirmation regarding the airdrop of DAOpunks NFTs and yet Aragon reveals itself as a low-risk investment for this week and the coming one. As of today, Aragon tokens are exchanging hands at $10.30 which is 14% more than yesterday’s value. 

CoinMarketCap, the Binance-owned crypto price aggregator and data provider has ranked ANT token at 159th spot. At the time of writing, the total market capitalization of Aragon is nearly $411 million and the volume in the last 24hr is close to $451 million.

The total circulating supply of Aragon tokens is set at 39.6 billion according to the real-time data available on CoinMarketCap. Aragon’s growing performance indicates that the next week would be crucial for investors wanting to enter the market for better ROI later on.

According to experts, DAO projects such as Aragon would continue being the newest trend in crypto markets.

ANT Technical And Fundamental Analysis

Since the past week, Aragon is seeing an encouraging rally which has secured its place as a low-risk DAO investment for the week. A total of 13 reliable technical indicators are showing positive signs for ANT token buyers and investors.

From the technical analysis, it is obvious that a strong buy zone is built around ANT tokens for the rest of the week which is sure to bring a lot of new investors towards the Ethereum-based DAO and Dapp platform, Aragon. 

Moving averages like the momentum (5.71) of ANT prices and its MACD level (0.368) puts it in the buy zone recommending investors to enter the market to make the most of it. But that is not all as a lot of popular oscillators like EMA (6.0) and SMA (5.5). 

Although the sparse bullish signals are being caused by Bitcoin’s current performance, investors should always keep in mind that it can fluctuate a lot in the coming days before the markets open up properly.

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