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- 1 ROOT rose by 161.54% last month and by 3.16% last week, signifying a strong upward force.
- 2 The ROOT crypto has exhibited a sign of resurgence as the price sustained at a pivotal level of around $0.04150 on the chart.
The Root Network is a new Layer 1 that is designed to be the center of the open metaverse where anything can be linked to anything.
The Root Network is tailor-made for the open metaverse with core, UX and digital content-oriented protocols that enable smooth user experience and improved asset interoperability across the open metaverse.
The Root Network emphasizes user experience and safety with built-in account abstraction and features like its any token gas economy that enables some of the world’s biggest content brands to onboard users easily and securely.
The Root Network is EVM compatible and built on Substrate integrated to XRPL and ETH with other networks coming soon that allow content and accounts on those networks to access more functionality and interoperability in the open metaverse.
The Root Network has been structured specifically to promote user experiences for new users to web3 and interoperability for creators of content-oriented applications.
A range of integrated core runtimes for developers makes it easier to build content-oriented applications without having to write or deploy their own smart contracts.
The Root Network has a special rewards economy that assembles fees from various network activities and makes a pool of rewards for anyone participating in the network by validating and nominating.
ROOT is the network token utilized by node validators and delegators to protect the Proof of Stake network. The network takes the assistance of an NPoS (nominated proof-of-stake) mechanism with validators and nominators.
Nominators guide validators with their tokens. These staked tokens ensure chain security by making it extremely costly to misbehave.
Can ROOT Crypto Spike From the Volume Profile Level?
The ROOT crypto surge sharply by 7.43% in the last 24 hours and was trading at $0.04784 at press time. Since then, the ROOT crypto has exhibited a sign of resurgence as the price sustained at a pivotal level of around $0.04150 on the chart.
The ROOT crypto is on the verge of a remarkable breakout, as it gathers momentum to shatter the ceiling and fly higher and higher from the current base zone.
Furthermore, if the demand for the remains high, the ROOT asset price could thrust upward from the current level. The next goal for the price is to reach $0.07000.
The ROOT asset displayed good performance in the previous month (161.54% rise) and the previous week (3.16% jump) highlighting the strength of the trend.
The ROOT asset is rising steadily and strongly as it remains above the volume profile’s highest volume graph line. This implies that the asset is not losing steam and maintaining the price above this level and could continue to climb higher.
However, if the ROOT crypto price fails, then it could decline further and reach $0.04000.
Summary
The ROOT asset is rising steadily and strongly. The asset is not losing steam and sustaining and could continue to climb higher.
Therefore, if the demand remains high, the ROOT asset price could thrust upwards from the current level. The next goal for the price is to reach $0.07000.
Technical Levels
Support Levels: $0.04000
Resistance Levels: $0.07000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
