<strong><em>AR prices beat the resistance trendline with a 40% jump the previous week but take a turnaround from $12.65, teasing a drop under $10.</em></strong>

<strong>Key technical points: </strong>
<ul>
 	<li>AR prices have jumped by 2% in the last 24 hours.</li>
 	<li>The price action shows the trendline breakout rally struggling to surpass the 50-day EMA.</li>
 	<li>The 24-hour trading volume of Arweave is $24 Million, indicating a drop of 25%.</li>
</ul>
<h2>Past Performance of AR</h2>
The AR price action showcased a downward trend in May, leading to multiple lower low formations, eventually generating a resistance trendline. However, the double bottom pattern at $7.75 in July led to the bullish breakout of the resistance trendline. Nonetheless, the breakout rally struggles to sustain above the 50-day EMA and exceed the selling pressure at $12.65.

<img src="https://s3.tradingview.com/snapshots/x/XZDz2dAN.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/XZDz2dAN/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">AR Technical Analysis </span></h2>
The AR price shows a diagonal bearish trend moving closely with the 50-day EMA teasing a potential crash below the $10 mark. However, traders must wait for a price action confirmation to avoid reversal traps. The MACD indicator shows the fast and slow lines crossing above the zero line, but the falling trend in the positive histograms teases a bearish crossover. Hence the technical indicator begs the traders to wait for a price action confirmation.

The stochastic RSI indicator shows a retracement to the overbought boundary by the K and D lines representing a new bear cycle. In a nutshell, the <a href="https://www.cryptoknowmics.com/news/ar-technical-analysis-will-buyers-skyrocket-market-price-to-18/">AR</a> technical analysis warns of a bearish retracement as technical indicators reflect a weakness in the underlying bullishness.
<h2><span style="font-weight: normal">Upcoming Trend </span></h2>
If the sellers overtake the trend control, the AR prices will drop under the psychological mark of $10. However, if the prices exceed the $12.65 resistance level and sustain above the average line, a price jump to $18 is possible.

<strong>Resistance Levels:</strong>  $12.65 and $18

<strong>Support Levels:</strong> $10 and $7.75

AR Technical Analysis: Breakout Rally Struggles To Exceed $12.65

AR Technical Analysis shows prices beating the resistance trendline with a 40% jump the previous week but take a turnaround from $12.65.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AR Technical Analysis: Breakout Rally Struggles To Exceed $12.65

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