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- 1 Arweave price prediction showcases the consolidation phase of AR crypto inside a horizontal range-bound area.
- 2 AR crypto is trying to sustain above 20-EMA to surge towards the 50, 100 and 200-days daily moving averages.
- 3 Arweave cryptocurrency has declined around 29.65% year to date.
Arweave price prediction indicates that the AR crypto is currently in a consolidation phase, with analysts suggesting the possibility of a breakout. To achieve this breakout, AR crypto must make a substantial upward move towards the upper trendline within the consolidation phase. However, it’s important to note that sellers have been consistently shorting the AR cryptocurrency market. Consequently, investors in Arweave crypto should exercise patience and closely monitor the daily time frame chart for any potential changes in direction.
As for the recent trading session, Arweave’s price started at $4.3344620 and saw a modest 0.94% increase in market capitalization. Notably, trading volume experienced a 25% increase intraday which indicates that there are active buyers in the market, working to drive AR crypto’s price upwards. The volume-to-market capitalization ratio was recorded at 2.16%.
Will Arweave Price Revert Back?
The Arweave price prediction indicates that AR cryptocurrency is currently experiencing a period of sideways movement, staying within a horizontal range-bound area on the daily time frame chart. Trading volume shows low participation at press time. AR crypto had a turbulent journey before entering the consolidation phase on the daily chart.
Furthermore, Arweave crypto is currently trading around the 20-day EMA0 and is making efforts to rise above the 50, 100, and 200-day daily moving averages. Over the past week, AR crypto’s price has gained 11.58%, but it has experienced a 2.32% loss in the past month. Additionally, AR crypto has seen a decline of approximately 15.19% in the last three months and a more significant drop of 48.83% in the preceding six months. Year to date, AR crypto has slipped by 29.65%.
Technical indicators point towards an upward trend for Arweave crypto within the consolidation phase. Both the relative strength index (RSI) and the moving average convergence divergence (MACD) indicate concerns regarding the sustainability of AR crypto’s price.
Presently, the RSI stands at 50 and is striving to remain above the neutral point. Additionally, the MACD line has moved above the signal line following a favorable crossover. Investors in AR crypto should exercise patience and wait for the cryptocurrency to approach the upper boundary of the consolidation phase before making any significant decisions.
Summary
Arweave price prediction indicates that AR crypto is in a consolidation phase, with analysts suggesting the possibility of a breakout. However, it’s important to note that sellers have been consistently shorting the AR cryptocurrency market. It’s worth noting that trading volume is currently below average, and there’s a need for it to increase during the day’s trading session. Technical indicators point towards an upward trend for Arweave crypto within the consolidation phase.
Technical Levels
- Support Levels: $4.1554683 and $4.0347642
- Resistance Levels: $4.4782193 and $4.7522755
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
