Arweave Price Analysis: AR Coin Struggle to Escape the Consolidation Phase, What’s Next?

Arweave price is consolidating inside the price range of $16.65 and $10.80 over the daily price chart.
AR crypto is trading above 20 and 50 EMA but still below 100 and 200-days Daily Moving Average.
The pair of AR/BTC is at 0.0005817 BTC with an intraday drop of 4.74%.

On the daily price chart, the Arweave price is trending strongly in a positive direction. On April 7th, the token began to stabilise at $43, having started to decline towards lower levels. Although the currency is trading towards the higher trendline, it is certainly going upward and is committed to breaking out of the consolidation. Investors in AR must hold off until bulls continue to hold the region’s outside border, which is bounded by a horizontal range. The AR coin price seems to be quite devoted to getting over the consolidation phase. AR needs to expand its customer base in order to keep up with the consolidation phase’s top trendline. Between $10.85 and $16.50, the price of AR currency has been holding steady.

Arweave currently has an estimated price of $15.13 and lost 4.69% of its market value yesterday. The trade volume decreased by 29.19% during intraday trading. This suggests that short selling pressure is present on the daily chart of the AR currency. The volume to market cap ratio is 0.03167.

The price of the AR coin is striving to sustain the upward trend shown over the daily price chart while also attempting to boost demand. For AR to move up and toward the top trendline of the consolidation phase, the token must maintain its current level. To record its recovery phase, the token needs to exit the consolidation phase. Volume shift needs to increase in favor of bulls because it is currently below average.

What do Technical Indicators suggest about AR?

The price of the AR currency is now trying to stay constant. As buyers enter the deal, AR currency is able to emerge from the consolidation stage. By pulling the token back towards the lower trendline, bears could halt the current bullish ascent of the AR currency. Technical indicators suggest that the AR coin is moving in a sideways direction.

Relative Strength Index shows the AR coin’s sideways velocity. The RSI is hovering around overbought territory at 56. The AR coin’s bearish momentum is visible on MACD. After a negative crossover, the MACD line is lower than the signal line.

Conclusion

On the daily price chart, the Arweave price is trending strongly in a positive direction. On April 7th, the token began to stabilize at $43, having started to decline towards lower levels. Although the currency is trading towards the higher trendline, it is certainly going upward and is committed to breaking out of the consolidation. Investors in AR must hold off until bulls continue to hold the region’s outside border, which is bounded by a horizontal range. The AR coin price seems to be quite devoted to getting over the consolidation phase. Volume shift needs to increase in favor of bulls because it is currently below average. Technical indicators suggest that the AR coin is moving in a sideways direction. After a negative crossover, the MACD line is lower than the signal line.

Technical Levels

Support Levels: $13.85 and $11.00
Resistance Levels: $15.55 and $16.65

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.