- The AR coin price is bullish after falling to the demand zone, during the previous sell-off.
- The AR coin price is forming a falling wedge pattern on a daily time frame.
- The pair of AR/BTC is trading at the price level of 0.000512 with an increase of 0.59% in the past 24 hours.
The AR coin price, as per the price action, is super bullish. Despite the recent bearishness in the overall cryptocurrency market, the AR coin price has managed to sustain above the demand zone. Recently it started making lower low and lower high formations on a daily crime frame. As a result, it formed a falling wedge pattern on a daily time frame. As of now, the AR coin price is resting at the demand zone. The AR coin price is currently trading below the 50 and 100 Moving averages. Recent bearishness in the price of AR coins led to the breakdown of the important demand zone. The breakdown in the demand zone resulted in the AR coin price falling below the 50 and 10p Moving Averages. Moving upward the AR coin can be seen facing strong reception of the 50 and 100 MAs. If the coin price successfully breaks the supply zone, then it can be seen moving above the important MAs. At present, the AR coin price is trading at the lower band of the Bollinger band indicator after failing to surpass the upper brand. Volumes have been normal as the AR coin price retest at the demand zone. The AR coin has gone below the 14 SMA, as it faced the heat.
The AR coin price is Fleming falling wedge pattern on a daily time frame
Relative Strength Index: The RSI curve has dropped below the halfway mark of 50 as the coin price fell to the demand zone. The AR coin price as per the price action is bearish and the same as depicted in the RSI curve. The RSI curve is currently translating at 41.42, after dipping out of the 25 mark. As of now, the RSI curve has also gone past the 20 EMA, indicating some bullishness signs. If the coin price successfully bounces off the demand zone, the RSI curve can be seen moving higher supporting the trend.
Moving Average Convergence Divergence: The AR coin price is bearish as it fell below the important breakout zone. Currently, as it rests at the demand zone, the MACD indicator has given a negative crossover. The orange line crossed the blue line on the upside. If the coin price fails to sustain above the demand zone, then the fall in the price of the AR coin can result in the MACD line widening supporting the trend.
Average Directional Movement Index: ADX curve has been dipping on a higher time frame as the coin continues to fall. In a daily time frame, the ADX curve has dipped out of the 20 mark and has turned upwards. As the coin price rests at the short-term demand zone on a 4-hour time frame. It is a positive sign for the coin price. Investors should wait for a positive candle formation at the demand zone.
CONCLUSION: The AR coin price is bullish as the price action suggests. As per technical parameters, the coin price is still bearish. Investors should wait for a proper breakout of the falling wedge pattern and then cat accordingly. It remains to see if the AR coin price will bounce off the demand zone or fall further following the bearish pressure in the overall cryptocurrency market.
SUPPORT: $10.10 and $9.50
RESISTANCE: $12.34 and $15.89