Arweave Price Analysis: AR looks positive for near future?


  • The EMA(50) is currently at $10.67.
  • AR gained approximately 1.8% within the last 24 hours.
  • AR price flashes signs of bullishness on 7-days price chart.
  • The current trading volume of Arweave is at $13,644,665.00.

03 October 2022 : In this article we will walk you through Arweave price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Arweave, Is AR a good investment? Arweave support & resistance levels etc. But before diving deep into the AR technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $729,661,588,345. The total trading volume stands at $45,441,080,186. Bitcoin shares 51.47 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,590.97 level after an upward movement of 2.17%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.38 percent reaching to $1,324.81 during the previous 24 hours.
While publishing this blog, BNB traded at $288.15, following a price change of 1.67% within the same time frame. XRP the native coin of XRP is down by -0.23 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.59% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Arweave Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Arweave (AR)

AR Resistance Levels AR Support Levels
Resistance Level 1 $9.66 Support Level 1 $8.96
Resistance Level 2 $10.02 Support Level 2 $8.62
Resistance Level 3 $10.36 Support Level 3 $8.26

Arweave Performance

AR has recorded a upsurge, gaining 1.8% in last 24 hours. The current value of Arweave is hovering at $9.42 with the trading volume of $13,644,665.00 USD in the same timeframe. The overall marketcap for AR is $314,447,501.00 USD while the coin price changes 0.29% over the week.

Arweave Price Analysis

AR price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Arweave.

Moving Averages Price Indicator
Simple Moving Average (10) 9.44 Sell
Exponential Moving Average (10) 9.41 Buy
Simple Moving Average (20) 9.59 Sell
Exponential Moving Average (20) 9.56 Sell
Simple Moving Average (50) 10.73 Sell
Exponential Moving Average (50) 10.67 Sell

RSI implying consolidation phase while trading at 48 and is trying to break out of the neutrality zone. While AR’s Williams %R indicator is at -69.781 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The AR/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. The immediate resistance for AR is found at $9.66, and a breakout from this level could leads towards the next resistance, which can be found at $10.02. On the other hand, if the bear take control and AR price fails to break out above $9.66, it could fall back towards the crucial support at $8.96.

Conclusions

The Arweave market is shown signs of being optimistic, and buyers have the potential to drive prices of the cryptocurrency higher in the next few days. The price of AR is expected to break above its resistance level of $9.66. On the other hand, if Arweave broke out from the bullish pattern and led its way toward support level of $8.96.