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Arweave Price Analysis: AR Coin Price Consolidates After A Gain Of 100% Within A Week

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  • AR coin price is currently in a downtrend on the daily chart and can soon see a low of $30. .In contrast ,Arweave price is trading with a loss of more than 10% in the intraday session.
  • Technical Indicators of the AR price suggests a weak downtrend for upcoming days . Meanwhile, AR/BTC pair is down by more than 9% in the intraday session

Why To Invest In AR Coin?

AR coin price is currently observing a downtrend on the daily chart and can soon hit the support of $30. Arweave  price is trading near the value of $41 and has seen a loss of more than 10% in the past 24 hours .Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. They describe themselves as a collectively owned harddrive that never forgets.

The project was there for a long time but the profit sharing tokens were formed in 2020 .Arweave is focused on building a sustainable ecosystem around the network. The AR/BTC pair is also in a downtrend but can soon revert to the uptrend. One can invest in AR as per their risk capacity and price action

Technical Indicators Of Ar Coin Price  Hints Towards A Downtrend For The Future

Source: Trading view

Arweave coin price is currently seeing an upside momentum on the daily chart and can hit a low in the future . It has up by more than 27% in the weekly time frame

On the daily technical chart the bullish momentum of AR has come to a halt after a strong bull run. The resistance of the Arweave while going in an upside trend can be seen near $50.  In contrast one can see the bounceback region near $25

The price is moving  above 50 and100 Daily Moving Average, with a positive crossover in the past. The 100MA line is near $17.5 , acting as a temporary support zone. AR price is forming a bearish pattern on the daily chart.. If the price goes 15% below the current level then a strong downside momentum can be seen. AR/BTC pair can also observe new highs in the future.

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Conclusion

Ar coin  price is currently in a slump but can soon revert to uptrend for a new high. AR/BTC pair can also see a new high in the future.An Investor should do their due diligence before investing.

Technical Levels

Major Support:$25

Major Resistance:$50

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