- The AR coin bears reclaim the 50 EMA in the daily time frame chart
- The AR/BTC pair was trading at 0.0009858 BTC with a loss of 1.78 %
- The 24hr trading volume in AR coin is $23.8 Million
On 22nd September, the AR token price bounced from the $36 support with a bullish engulfing candle, providing hope for the continuation of the bull rally. However, the price couldn’t surpass a near resistance of $53 and was immediately pushed back and is now again moving towards the bottom support. The current price of the AR coin is $40.45, with an intraday loss of 1.01%.
Concerning the EMA’s, the AR coin is still bullish, as the price is trading above the trend defining 100 EMA’s. However, the coin sellers did manage to reclaim the EMA, encouraging the ongoing going bear attack.
The RSI (BULLISH) value is at 42, indicating a bearish sentiment in the coin. Moreover, the RSI shows a steady downfall in its value, suggesting the increasing strength for market sellers.
AR Coin Crypto Chart In The 4hr Time Frame.
The AR coin is still in its retracement phase after the price was rejected from the highest known resistance of $70. However, the price has already dropped more than expected and is now charging towards another crucial support of $36. However, if the AR coin price also managed to breach this support level, the whole idea of retracement could be doubted.
The moving average convergence/divergence indicator (BULLISH) still shows a bullish momentum as both the MACD and signal lines are moving higher to the neutral zone(0.00).
Conclusion: From the technical view, the overall trend of the AR coin is still bullish. However, as mentioned above, the coin’s price action suggests a strong bearish outlook, which could provide some quick shorting opportunities for the Crypto trades. These trades should look out from the $36 mark, as the coin price will react to this level.
Support– $36
Resistance– $42