2024

Arweave

Coin

<p>Hovering near its most vital support zone ($20), <strong>AR</strong> underperformed in the past few months.&nbsp;</p> 
<p>Since March, the token has attempted multiple times to breach the supply zone of $48-50, but sellers were resilient.</p> 
<p>Interestingly, the same happened at the bottom with the sellers, they also had tried to breach the demand zone of $20. These roller coaster moves led to the token staying in a closed range over the past few months.&nbsp;</p> 
<p>As of now, the token is below the significant moving averages amid a lack of buying momentum to sustain at the 20 day EMA mark.</p> 
<p>Amidst the market bearishness, the token moved sideways<strong> </strong>in a narrow range for the past few weeks and signifies a reduced investor interest in it. If AR crosses the $20-50 zone in either direction, a sharp one-sided move could be seen.</p> 
<h2 class="wp-block-heading" id="h-arweave-ar-swims-to-bottom-what-s-next"><strong>Arweave (AR) Swims to Bottom: What’s Next?</strong></h2> 
<p>As the past trend showed that, <a href="https://www.thecoinrepublic.com/2024/05/16/arweave-ar-eyeing-50-mark-breakout-on-the-cards-whats-next/"><strong>AR </strong>found support</a> multiple times near the $20 mark and pulled back from there. This time, the same was anticipated by the investors and so began the accumulation.</p> 
<p>However, the clarity was not there and lack of follow on buying was visible on the charts. A break and close above the $24 mark confirms the clear pullback sign and investors are waiting for it.</p> <iframe loading="lazy" title="Santiment Chart: Price (AR), Volume (AR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=shiba-inu&amp;pt=SHIB&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Barweave%3BAR%5D%3B%5B1%3Bvolume_usd%3Barweave%3BAR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>At press time, <strong>AR </strong>was trading at $21.90 with an intraday drop of 9.36%, reflecting neutrality on the chart. Its trading volume noted a sharp spike of over 135% to $172.36 Million.</p> 
<p>The pair of AR/BTC is at 0.0000383 BTC, and the market cap is $1.44 billion. Analysts are neutral and suggest that the Arweave price may flip the gains and could see a recovery ahead.</p> 
<p>Its RSI curve placed around 35, below the midline region and a convergence with the signal line noted. Still, lack of clarity there and indecisiveness observed, buyers need to gain further traction to resist the selling pressure.</p> 
<p>Once it climbs the 200 day EMA, a short covering move would be triggered, which leads the token toward the $30 mark.</p> 
<p>@Decilizer in his tweet said that AR token has a strong immediate support zone around $17 and was respected multiple times in the past. A potential rise toward the $43 mark could be anticipated with the market recovery ahead.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24AR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AR</a> is showing strong momentum, with a solid support level at $17 and a clear upward trend, suggesting a potential rise towards the next target of $43. Hopefully, BTC will also continue its positive trend! <br>Previously we've seen 11x gains on it. <a href="https://t.co/b3BlCVM9Zj">pic.twitter.com/b3BlCVM9Zj</a></p>— Decilizer (@decilizer) <a href="https://twitter.com/decilizer/status/1811629975633821862?ref_src=twsrc%5Etfw">July 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-weighted-sentiment-data-showed-a-dip"><strong>Weighted Sentiment Data Showed a Dip</strong></h2> 
<p>This week, a sharp decline in the weight sentiment data observed and the value reach the negative territory, note at -0.936, convey a bearish outlook</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (AR), Price Volatility 1d (AR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=shiba-inu&amp;pt=SHIB&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsentiment_volume_consumed_total%3Barweave%3BAR%5D%3B%5B1%3Bprice_volatility_1d%3Barweave%3BAR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Likewise, the price volatility curve revealed a drop over 12% in the intraday session. It implies the reduced trading activity in the intraday session.</p> 
<h2 class="wp-block-heading" id="h-total-liquidations-chart"><strong>Total Liquidations Chart</strong></h2> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfLqws1DHwT3cC_vcY6knIHZY5wuOijRzyKE4qTMy65ZB3bgTx1WMZh8psvYkT6qSnRPfX9Bpba8yqhDDew0rqb13rnJssYjKK7QapQl2FxIRFRH_JA_ke3CTR2JvauPt42tyUVIuXKz5dKvCBWwFgIsKv5?key=yzj66dDoPFhXBB0hJut-pQ" alt="Arweave">
 <figcaption class="wp-element-caption">
  <strong>Liquidity Chart &nbsp; Source: Coinglass</strong>
 </figcaption>
</figure> 
<p>At the time of writing, the long liquidations were much higher than the short liquidations. This conveying the bears presence was strong and the token might face further declines ahead.</p> 
<p>The immediate support levels for <strong>AR</strong> are $1.80 and $1.30, whereas the key upside hurdle is around $2.40, followed by $3</p> 
<p>The <strong>Arweave token price </strong>faced rejection from the 20-day EMA mark and still hovered near the demand zone. Buyers have attempted for a recovery and are looking to cross the $24 mark for a significant bounce ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/12/arweave-ar-at-demand-zone-pullback-on-the-horizon/">Arweave (AR) At Demand Zone: Pullback On The Horizon?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Arweave (AR) At Demand Zone: Pullback On The Horizon?

Table of Contents

Thecoinrepublic.com

Autres articles publiés le 12 juil. 2024

Spot bitcoin ETFs log $79 million in net inflows, reaching fifth consecutive day of positive flows

Market Focuses on Bitcoin, Ethereum, and XRP Amid Uncertainty

Genesis Trading Moves $720M in Bitcoin to Coinbase, How Will BTC be Affected?

Machi Big Brother Sells All His BLUR Holdings, Looses $3.16M!

Morgan Creek Digital Launches $500M Fund to Revolutionize Web3

Cyprus Accountancy Regulator Urges Vigilance in Detecting Terror Financing, Highlights Crypto Risks

Join our free newsletter for daily crypto updates!