DATA Coin price reached $0.08 as transfer volume spiked to 300M, signaling strong market activity.
Analysts expect a breakout above $0.07000, which could trigger a 200% price rally to $0.14 or beyond.
Growing investor confidence and rising volume reflect optimism for DATA’s long-awaited recovery after a three-year price downtrend.
Streamr DATAcoin (DATA) is approaching a price breakout that could lead to a 200% rally. Currently, the price trades at $0.06306 after rising 10.71% on Binance. The chart shows DATA nearing a key level at $0.07000, where both a horizontal resistance and descending trendline converge.
Source: World Of Charts
The $0.07000 resistance level has been a major barrier for DATA since 2021. This level has repeatedly limited upward price movement, making it a key zone to watch. Recently, the price action has strengthened, showing a pattern of higher lows.
Technical Patterns Suggest Strong Momentum
The descending trendline has kept DATA in a downtrend for nearly three years. However, the recent price recovery has shown a shift in momentum. Analysts highlight a falling wedge pattern forming on the chart, which often signals a trend reversal. This pattern suggests that the coin is preparing for a breakout if it clears the $0.07000 resistance.
Volume has also increased alongside the price movement, which often confirms bullish momentum. Traders now focus on whether DATA can sustain this upward move. The breakout could push the price toward $0.14 in the short term as buying activity increases.
Community Excitement Builds Around DATA’s Breakout
Traders and investors have expressed strong interest in DATA’s recent performance. On social media, many believe the price could move higher once it clears resistance. Some traders project the price could hit $0.22 if momentum continues. Others mention a long-term possibility of reaching $1.00, though that would require sustained demand.
The excitement around DATA comes as it attempts to end a three-year price suppression. Market analysts believe that a confirmed breakout could change its trend completely. With volume rising and community interest growing, traders are waiting for DATA to break past its multiyear resistance.
DATA Token Hits $0.08 as Transfer Volume Spikes to 300M
According to recent data from Glassnode, Streamr DATAcoin DATA has experienced spikes in total transfer volume over the past two years. The chart shows noticeable surges in total transfer volume, represented by the orange lines, occurring during critical market movements.
Specifically, the transfer volume hit its peak near 300M in early January 2023, followed by similar spikes in July and December 2023. These volume increases coincided with short-term price upticks, suggesting increased on-chain activity during volatile price movements. However, transfer volume remained largely subdued for much of 2023, apart from isolated bursts of activity.
Source: Glassnode
The black line representing the price trend indicates steady price performance for most of 2023, with price recovery seen at the start of 2024. By December 2024, DATA's price reached approximately $0.08, reflecting a notable upward trajectory.
Moreover, the price movements from March to May 2024 reflect a consistent upward trend, highlighting growing investor confidence. Glassnode's data confirms that major transfer volume spikes continue to align with key price movements, indicating strong correlation between market activity and on-chain behavior.
