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ARWeave Price Analysis: AR Token Price Gains Bullish Momentum, But Will It Break Above $65 Mark?

Antonio K Smith by Antonio K Smith
October 11, 2021
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Arweave Price Analysis: AR Coin Provides A Breakdown From A Double Top Pattern
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  • AR Token price continues to grow higher, supported with an ascending triangle.
  • The price action analysis indicates the formation of an ascending triangle.
  • The pair of AR/BTC is trading at 0.001022 BTC with an intraday fall of -7.90%.
Source- tradingview

AR coin price action indicates a solid uptrend in the action as the price approaches the $65 resistance in the daily chart. Furthermore, the underlying bullishness gradually decreases as the price approaches the long-coming support trendline with increasing selling volume.

As per the pivot points, the resistance levels for the token are residing at $65 and $88 marks. Therefore, in the case of a bearish reversal of the coin price, sellers may find opposition at $50 or $36.

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The AR Token price trades at $59, decreasing 3.69% in market capitalization over the past 24 hours. However, the intraday trading volume has increased by 124% in the past day, indicating a rise in the number of sellers.

AR Token In The 4-hour Chart                    

Source – tradingview

AR token price action indicates the price approaching the support trendline 4-hour chart. Moreover, the recent rise in selling volume indicates a bearish attack. Thus, a fallout possibility of the support trendline is plausible.

In a bullish structure, the EMAs for the 4-hour technical Chart rise in a bullish structure. It could help protect the prices from a bearish attack. The price is also testing a 50-period EMA.

The RSI indicator predicts a surge in underlying bearish biases. As a result, RSI spikes lower on the daily charts.

The ADX indicator indicates a slight upward trend of momentum.

MACD indicators indicate that MACD and signal line is moving higher than the neutral area. Therefore, it indicates bullish momentum for the token price.

Conclusion – The short-term trend of the AR Coin is still bearish from a technical standpoint. However, the current chart of the coin price shows a positive outlook. Moreover, it may soon break the $65 mark. So, crypto traders can expect bullish opportunities while they wait until a genuine breakout is confirmed.

Support – $50 and $36

Resistance – $65 and $88

Tags: AR coinArweaveCryptocurrency
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Antonio K Smith

Antonio K Smith

Antonio is a travel photographer by profession and came across the Crypto world during his profession. Since then his love, knowledge and interest towards the technology have increased. He brings his passion to create in his articles.

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