$AR Arweave price analysis.......📈📉
Arweave (AR) rose above both moving averages on April 25, signaling that the bulls are attempting a comeback.
#AR/USDT daily chart.
The bears tried to pull the price back, but the bulls purchased the dip to the 20-day EMA ($32.19) on April 27. This suggests a change in sentiment from selling on rallies to buying on dips. There is a minor resistance at $40, but if it is crossed, the AR/USDT pair could rally to the stiff overhead resistance of $47.52.
If bears want to prevent the rally, they will have to quickly tug the price back below the 20-day EMA. If they do that, the pair may tumble to $22.
AR/USDT 4-hour chart.
The pair shows the formation of an inverse head-and-shoulders pattern that will complete on a breakout and close above the neckline. If that happens, the pair is likely to dash toward the pattern target of $50.
On the contrary, if the price fails to maintain above the neckline, it will suggest that demand dries up at higher levels. The pair could then drop to the critical support at $30. A break below this level will tilt the advantage in favor of the bears.
