ARWEAVE Price Analysis: Bearish Dominance Hitting the AR Price Hard

  • Even after the bulls’ efforts to provide support over the daily price chart, the AR price is still moving in a decent downtrend.
  • The technical indicators indicate the bearish dominance over the daily chart.
  • The AR/BTC pair is at 0.0005854 BTC with a loss of 3.56%.

The AR price is surfing over a good downtrend movement even after the bull’s effort to support the daily price chart. The leading cryptocurrency Bitcoin price is sinking and giving the whole crypto market hard times. The bearish pressure made a decrease of approximately 28% in a period of ten days.

The trading volume is at a massive gain of 260% in just 24 hours trading session. The bulls can stick to it and gather to support the coin and make a successful trend reversal, as the recovery efforts are destroyed by bears. The coin needs to gather buyers or else it will suffer a  collapse and will fall to its all-time low once again and it will become a problematic situation for the AR bulls to make the coin recover.

The price for one AR coin is currently trading at $12.79 which is currently at a loss of 7.43% in its market capitalization in the last 24 hrs. The coin has a trading volume of 58 million which is at a gain of 260.67% over the last intraday trading session and a market cap of 427 million. The volume market cap ratio for AR is 0.1343.

What do ARs’ Technical Indicators Suggest?

The AR price is moving over a downtrend across all-time horizons amid the bearish outbreak. The trading volume is moving below the average still after the gain of 260%.

The MACD indicator shows after a negative cross-over due to the selling pressure, now the seller’s signal line is moving above the buyer’s line along with continuous growth of red histograms. The relative strength index after approaching an overbought is diving continuously because of the same selling pressure. The RSI value for AR is below 50 currently.

Conclusion

The AR price is surfing over a good downtrend movement even after the bull’s effort to support the daily price chart. The bearish pressure made a decrease of approximately 28% in a period of ten days. The coin needs to gather buyers or else it will suffer a  collapse and will fall to its all-time low once again. The technical indicators are calling for a bearish movement ahead so the investors need to wait before making any decision.

Technical levels

Resistance levels: $17.54 and $19.6

Support levels: $10.55 and $8.23

Disclaimer 

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