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ARWEAVE Price Analysis: AR Price is Surfing on the Waves of Uptrend, Must Need to Take Care of BEARS

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  • Signs of relief for the AR investors, as the bulls came to rescue the token. Still need to focus as the recovery is not enough.
  • The crypto asset is moving below the 20, 50, 100, and 200 daily moving average
  • The AR/BTC pair is at 0.0004757 BTC with a gain of 6.08% in it.

After a continuous downfall in the price over the daily chart the bulls are now participating to push the price. This time it looks like the bulls are dominating as the buying volume is at a gain of 85.15% in just 24 hrs. This recovery is not enough so the bulls need to be consistent to make a successful recovery for the coin. The bears may interrupt the trend reversal so bulls need to be prepared for the backfire. This uptrend can be useful for the AR ecosystem as it can attract more buyers which can be advantageous further. The coin is moving significantly above the 5 day simple moving average, whereas the volume is still moving below the average. The AR price made a lower low of $8.92 in 24 hrs and gained 40% of its market cap in 3 days.

The price for one AR coin is trading presently at $10.27 with a gain of 10.74% in the last 24 hrs. The coin has a trading volume of 37 million with a gain of 85.15% in the 24 hrs trading session and a market cap of 342 million which is at a gain of 10.74% in it. The volume market cap ratio for AR is 0.109.

What do Technical Indicators Suggest

While talking about the price it is moving significantly above the exponential moving average over the daily and hourly graph.

On the other hand, the technical indicators line the Bollinger band suggest a bullish movement as the price hit the lower band.

The MACD also supports the uptrend movement as we can observe a positive cross over the MACD signal line by MACD line. The relative strength index is heading to the upwards region indicating the same. The value for RSI is nearly equal to 40.

Conclusion

After a continuous downfall in the price over the daily chart the bulls are now participating to push the price. The bears may interrupt the trend reversal so bulls need to be prepared for the backfire. The trading volume gained 85% in just 24 hrs session. The technical indicators suggest a bullish rally.

Technical levels

Resistance levels: $10.5 and $11.2

Support levels: $8.25 and $7.5

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

ALSO READ: Bitcoin Cash price analysis: BTC Manages $20K, But BCH Still Looking Sideways With Hidden Bullish Pattern

Steve Anderrson

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