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- Arweave price is trading near the lower price range of the horizontal range-bound area over the daily chart.
- AR crypto is trading below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of AR/BTC is at 0.0005562 BTC with an intraday drop of 5.06%.
On the daily price chart, the price of Arweave is clearly rising. On April 7, the token started to decline in price and settled at $43. Even if it is now trading toward the higher trendline, the currency is undoubtedly headed upward and committed to breaking out of the consolidation. Investors in AR must wait until bulls maintain control of the region’s outside border, which is indicated by a horizontal range. The AR coin’s price seems to be quite devoted to getting out of the phase of consolidation. AR must expand its customer base in order to follow the consolidation phase’s top trendline. The cost of AR currency has been consistent between $10.85 and $16.50.
The expected price for Arweave is currently $11.59, and yesterday it decreased in market value by 5.4 percent. The transaction volume decreased by 13.61% during the intraday trading session. This suggests that short sellers are exerting pressure on the daily chart of the AR currency. Volume to market cap ratio is 0.04947.
The price of the AR coin is trying to sustain the upward trend apparent throughout the daily price chart while also trying to boost demand. For AR to move upward and get closer to the top trendline of the consolidation phase, the token must maintain its current level. To record its recovery phase, the token must exit the consolidation phase. Volume shift needs to increase in favor of the bulls as it is currently below average.
Will AR crypto Make it or Break it?
The price of the AR currency is now trying to hold stable. As buyers participate in the transaction, the AR currency is allowed to exit the consolidation period. However, by moving the token back toward the lower trendline, bears could halt the current bullish climb of the AR currency. Technical indications suggest that the AR currency is moving in a downward fashion.
Relative Strength Index shows the AR coin’s downtrend’s momentum. The RSI is just approaching oversold territory at 36. The AR currency has a bearish momentum, according to the MACD. After a negative crossover, the MACD line is lower than the signal line. Investors in AR must watch the daily chart for any directional changes.
Conclusion
On the daily price chart, the price of Arweave is clearly rising. On April 7, the token started to decline in price and settled at $43. Even if it is now trading toward the higher trendline, the currency is undoubtedly headed upward and committed to breaking out of the consolidation. Investors in AR must wait until bulls maintain control of the region’s outside border, which is indicated by a horizontal range. The AR coin’s price seems to be quite devoted to getting out of the phase of consolidation. To record its recovery phase, the token must exit the consolidation phase. Volume shift needs to increase in favor of the bulls as it is currently below average. Technical indications suggest that the AR currency is moving in a downward fashion. Investors in AR must watch the daily chart for any directional changes.
Technical Levels
Support Levels: $11.00 and $10.00
Resistance Levels: $13.00 and $15.00
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
