Price Analysis View Non-AMP

This Bullish Pattern In AR Price Teases $100 In 2024

Published by
Sohrab Khawas

As the bullish momentum in the market exhausts in the middle of the week, many altcoins are returning to the nearest support levels. Amidst this spring of correction, the AR price is failing to surpass a multi-contact reversal zone.

With Bitcoin reverting to the $62,300 support, will altcoins crash this weekend? Will the Arweave token price survive the correction wave to reach $100 this year? Find out more in our AR price prediction, which suggests a prolonged uptrend. 

Arweave Token Price Performance

Last night, the AR price dropped 4.96%, forming a bearish engulfing candle due to extreme supply at $44. The price drop led to an evening star formation at crucial resistance, teasing a continuation of the downfall. Nevertheless, the altcoin price has remained positive in the last seven days, with an overall return of 27%. 

With an evening star at $44, the AR price warns of a downfall to the next support zone of $30. However, the consolidating price action between $44 and $20 suggests an inverted head-and-shoulder pattern. 

Currently, the AR price trades at $38 with an intraday growth of 0.60%. In case of an early reversal from $35, the altcoin price could skyrocket this month for a bigger move.

Technical indicators:

MACD: The MACD and signal lines are rising higher in the positive territory, but a gap shortening warns of a crossover. 

RSI: The daily RSI line shows an upward journey approaching the overbought zone, reflecting growth in underlying demand.

Will The AR Price Cross $44?

With the overnight drop, there are only slim chances of AR price crossing the $44 resistance zone this week. However, with the promise of an inverted head and shoulder pattern, the altcoin could bounce back this month for another breakout attempt.

As per the trend-based Fibonacci levels, the Arweave token price could reach the 1.618 Fibonacci level at $87.

Also Check Out: WIF Price Crashes 10%, A Retest Teases A Jump To $5

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

StakeStone and WLFI Join Forces to Boost USD1 Stablecoin Liquidity

StakeStone has teamed up with the Trump family's crypto project, WLFI, to offer cross-chain liquidity…

May 9, 2025

“It Was a Vote Against Trump”: Tim Scott Blames Democrats for Stablecoin GENIUS Act Failure

The U.S. just stumbled on what could have been a breakthrough moment for crypto but…

May 9, 2025

Brazil’s B3 Exchange to Launch ETH and SOL Futures, Reduces Bitcoin Contract Size

Brazil’s B3 stock exchange will roll out Ethereum (ETH) and Solana (SOL) futures contracts on…

May 9, 2025

This New Cryptocurrency Could Outperform XRP and MATIC — Best Crypto to Buy Before June?

The crypto market in 2025 is no longer just about riding the waves of the…

May 9, 2025

Cardano Price Prediction For May 9

Cardano is riding the bullish wave as it joined the broader market rally on Thursday,…

May 9, 2025

Pi Network Price Prediction 2025, 2026 – 2030: Why Is Pi Coin Dropping?

Story Highlights The Pi Network price today is PI price could reach a maximum value…

May 9, 2025