04 February 2023 : 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.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,083,902,829,052. The total trading volume stands at $49,990,614,706. Bitcoin shares 41.6 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $23,384.45 level after a decline of -0.66%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.75 percent reaching to $1,662.69 during the previous 24 hours.
While publishing this blog, BNB traded at $329.17, following a price change of -1.43%within the same time frame. XRP the native coin of XRP is down by -0.01 and currently trading at $0.41. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% 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.
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||$10.49||Support Level 1||$8.81|
|Resistance Level 2||$11.26||Support Level 2||$7.90|
|Resistance Level 3||$12.17||Support Level 3||$7.13|
According to PriceAnalysis Market Index, Arweave (AR) is trading at $12.26 with a trading volume of $40,882,038.00. However,AR has seen a price increase of 1.18% in the last 24 hours.AR price changes 21.18% over the week with a total market capitalization of $409,283,405.00 USD.
AR price analysis for 04 February 2023 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.
|Simple Moving Average (10)||9.43||Buy|
|Exponential Moving Average (10)||9.53||Buy|
|Simple Moving Average (20)||9.34||Buy|
|Exponential Moving Average (20)||9.40||Buy|
|Simple Moving Average (50)||9.71||Buy|
|Exponential Moving Average (50)||9.72||Buy|
While AR’s Williams %R indicator is at -19.968 for the 14-day time period indicating a overbought condition and short term trend price correction is possible. The MACD line is standing above of the signal line after a positive crossover. Arweave investors need to wait for any directional change over the daily chart. The Relative strength index (RSI) for AR Coin is currently hovering at 56 for 14-days average line, which means AR is moving towards overbought zone.
Arweave market shows a bullish signs, and bulls can push AR higher in the coming sessions. AR has a resistance at $10.49, beyond which the coin would move toward next crucial resistance at $11.26.