Arweave is heading towards 104-114$ with lines up with the 1.618 fib ext.
Normally Arweave runs with Solana - As always we have to watch BTC closely due to her mood swings.
Want permanent storage? Arweave is here.
Long Currently trading at 57.80$
Dip towards 55-53$ will be buying opportunity
Can start accumulation at dips of the given area
Stay Long above 50$
Targets are define on chart.
Arweave has came down to test the ascending trendline support on the daily TF. We can already see a strong reaction from buyers at this zone, the market is potentially forming a double bottom formation here we are waiting to see a daily close above the confluence of resistance before we can drop down to the 4hr timeframe and look for a valid entry to open...
Target T1: $75
Target T2: $96
Arweave is the world's first blockweave coin -- which is a data storage protocol that enables permanent storage of digital assets such as transactions, smart contracts, Web pages, videos, images, and more, directly on its native blockchain.
#not a financial advice
As refer to my previous analysis, the Price has broken new high and new low as shown in the yellow dash line. Therefore, the estimated price need to adjust accordingly. Referring to the estimated price shown in the purple dashed line, the target price has just reached. Price is aspected to retrace first.
ARUSDT (Day Chart) Technical Analysis Update
AR/USDT currently trading at $70.00
Triangle formation in a day chart
Buy level: Above $68.00
TP 1: $85
TP 2: $120
TP 3: $150
Stop loss: $45.50
Max Leverage: 2x or buy it on spot market
After breaking major resistance and setting new ATH on November 5th the price is now back in the area of previous highs testing it as support. The current area is also supported by previous dynamic resistance(aqua), 200EMA(4h), 0.5FIB retracement and mid-channel dynamic support(green). If buyers manage to defend this level, we can expect more upward pressure...
#AR (4 Hours)
Arweave is currently ranging for the last 2 Months And is forming an ascending triangle pattern. A Break upwards will easily lead AR to a 100$. A breakdown will give furthur sideways accumulation around 35$.
After breaking out the important resistance in the previous rally, it seems the price is pulled back to the mentioned area. If the price stays in the upper this area, it could be touched the next targets ahead, in my point of view. Also maybe touch the canal midline or hit the top canal line in the long term. As always, it's not an investment suggestion.
-Structure break and retest
-Momentum // Relative strong response to market drop
Reasons not to buy yet:
-Sellers still in control
-No reversal candles..yet
-Only 2-4% loss, but BTC hasnt reversed short term trend..yet.
As referring to my previous idea, ARUSDT nicely touch on the target price but was unable to break through and retrace nicely which shows support at the yellow trend line. As it's approaching the tip of the triangle between the yellow line and the red line, it's time to observe again. For me, I personally think that it has a higher chance for the price to go...