Arweave price analysis: Let’s know how AR Coin will manage its costs in double digits in July

• The Arweave coin is consolidating within a horizontal range between $7.5 and $11 support and resistance.
• The AR coin follows a higher-low formation in a shorter time frame rather than staying in a range-bound phase.
• Buyers pushed the altcoin price above the 20-day moving average on the daily price scale.

Arweave coin has been dominated by sellers for the past several weeks. Meanwhile, the bulls also started taking interest in the AR coin, so the altcoin directional trend got caught between the bulls and the bears.

Amidst the downtrend, the AR coin recorded a 2022 low at the $7.17 mark. The bulls are hardly defending themselves from oversold. Thus the Arweave coin is consolidating within a horizontal range between the support and resistance of $7.5 and $11 for the past 15 days.

Despite the range-bound market, the AR coin follows a higher-low formation in the lower time frame and buyers try to keep the price above the bullish trend line (in the chart below).

The bulls are struggling near the $10 conceptual round level in an intraday trading session. Although buyers broke above this short-term resistance zone, the price failed to sustain above it. Thus, the AR coin trades at the $9.9 mark at press time.

AR Coin’s market cap has risen 13% to $333 million in the past 24 hours, according to data from CMC. Meanwhile, trading volume last night displayed above average buying after a week. Now the bulls have a shot to do well and cross the boundary phase.

Bulls attempt to push AR price above round level 

In the context of the daily price scale, the RSI indicator shows an upward move while forming a high-low. Near the semi-line, the indicator often gets rejections, so buyers can expect a bullish trend if its peak breaks this resistance.

Furthermore, buyers pushed the altcoin price above the 20-day EMA on the daily price scale.

conclusion

With little bullishness, buyers manage to hold Arweave Coin price above the 20-day moving average. Now the bulls have a shot at playing well and crossing the boundary phase as quickly as possible.