Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as "a collectively owned hard drive that never forgets," the network primarily hosts "the permaweb" — a permanent, decentralized web with a number of community-driven applications and platforms.

The Arweave network uses a native cryptocurrency, AR, to pay "miners" to indefinitely store the network's information.

Let us see the technical analysis of AR.
<h2><b>Past Performance of AR</b></h2>
The coin is trading at $45.54, approximately 2% down during the last 24 hours. Last week, it traded between a range of $35.23 and $47.92. It has been <a href="https://www.cryptoknowmics.com/news/ar-technical-analysis-price-can-easily-go-to-a-resistance-level-of-60-29/">hitting</a> new resistances since November first week, after which it slid down from a high of $83.5 to its current price. The price increment was owing to Arweave being picked up by Solana to manage its data needs. Therefore, as Solana's adoption increases, so too does the importance of Arweave's services. And with $100 million to spend, it seems more games will be built on Solana, creating a favorable-use case scenario for Arweave.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/e/etyTjeBq.png" alt="TradingView Chart" />

Source: <a href="https://www.tradingview.com/x/etyTjeBq/">https://www.tradingview.com/x/etyTjeBq/</a>
<h2><b>AR Technical Analysis</b></h2>
AR is currently trading near its five-day high of $46.90. The Distributed Software Platform asset is 0.22% off its five-day high and is 32.84% higher than its five-day low of $35.23.

AR price is currently above resistance. With support set around $37.65 and resistance at $44.18, AR is potentially in a volatile position if the rally burns out.

The <b>On-balance Volume</b> is at 15.78 million, and it seems to be flat for a few weeks and an upswing might be seen if it breaks further resistances.

<b>RSI</b> is at 40% and took a sharp downturn towards the oversold direction. This shows the momentum is slowing down and is in line with the price. The strength is there for slight bearishness.

The <strong>MACD</strong> is almost at one point below the histogram with no movement. Thus, there is a strong possibility of an uptick. It is at an inflection point right now.
<h2><b>Price Trends for the Day-Ahead and Tomorrow</b></h2>
Arweave has traded on low volume recently. This means that today's volume is below its average volume over the past seven days. The immediate technical signals show a SELL sign, but the average price rise and movement show the coin can easily go in the positive zone. It is above its moving averages, and the next levels it should reach are $66.99 and $82.49.

AR Technical Analysis: Look for New Resistances, Short Term Dip in Prices

AR has traded on low volume recently. This means that today's volume is below its average volume over the past seven days. The immediate technical signals show a SELL sign, but the average price rise is and movement shows the coin can easily go in the positive zone. It is above its moving averages and the next levels it should reach are $66.99 and $82.49. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

AR Technical Analysis: Look for New Resistances, Short Term Dip in Prices

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