Arweave price prediction showcases the sustainability issues of AR crypto at the lower trendline of the consolidation phase. AR crypto is trying to sustain at the lower trendline of the consolidation phase. But it looks like sellers are trying their best to pull AR crypto price out of the consolidation phase. Meanwhile, Arweave price needs to attract buyers in order to maintain itself inside the horizontal range-bound area.
Arweave price had a roller-coaster ride before entering inside this consolidation phase over the daily time frame chart. At first, AR kept on slipping from the higher level from May to June 2023 and finally managed to gather support near $4.8301194. However, AR crypto consolidated for a while at the lower level and then gathered support to surge near the $6.25 recovery level.
Arweave price was at $5.4484578 and has lost 0.73% of its market capitalization during the day’s trading session. However, trading volume has increased by 16.58% during the intraday trading session. This demonstrates that buyers are still there to save AR crypto from falling. Volume to market cap ratio was at 0.0276.
AR crypto price has gained 22.73% over six days consecutively before entering the current consolidation phase. However, AR crypto couldn’t sustain at the upper threshold and remained caged inside the consolidation phase. Now, it looks like AR crypto may slip below the consolidation phase as sellers are pulling AR crypto price below the lower trendline.
Will Arweave Price Bounce Back?
Arweave price prediction suggests the momentum of AR crypto is declining from the consolidation phase over the daily time frame chart. Meanwhile, the volume change is below average and needs to grow during the day’s trading session. However, AR crypto has dropped below 20, 50, 100 and 200-days daily moving averages.
Moreover, Arweave cryptocurrency is currently trading at the crucial make-or-break situation. Buyers need to come forward for the rescue of AR crypto to sustain and revert back inside the consolidation phase.
Technical indicators highlight the downside trend of Arweave price. The relative strength index (RSI) and moving average convergence divergence (MACD), both indicate the downtrend momentum of AR crypto price.
RSI was at 41 and is heading towards the oversold territory. The MACD line is below the signal line after a negative crossover.
Investors in Arweave cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Arweave price prediction highlights the sustainability concerns of AR crypto at the consolidation phase’s lower trendline. AR initially kept dropping from the upper level. From May to June 2023, AR ultimately managed to amass support in the neighborhood of $4.8301194. Meanwhile, volume change is below normal and needs to increase during the trading session. Arweave’s price is trending downwards according to technical indicators. Investors in Arweave coin should monitor the daily time frame chart for any directional changes.
Technical Levels
Support Levels: $5.3557282 and $5.00
Resistance Levels: $5.73501 and $6.247233
