Arweave Breaks Below The Trendline Support!
Arweave Breaks Below The Trendline Support!
Arweave crypto made a breakdown below a trendline support and in the previous weeks indicating a short term bearish dominance. Moreover, the AR crypto failed to reclaim above the trendline this week causing a continued selling pressure eroding nearly 23% of its value.
At the time of writing, the crypto was hovering close to $29.25 indicating a 2.81% rise in Intraday. It has a live market capitalization of $1.92 Billion and ranks 51st in the cryptoverse. Out of maximum supply of 66 Million tokens, 99.47% i.e. 65.65 Million AR tokens are currently in circulation.
From a technical point of view, the price seems to be taking support from the 200 day Exponential moving average of 200 days. The 200 day EMA might be the last defending zone before a possible trend shift. Now, if the bulls fail to hold the price above the 200 day EMA, it may indicate a trend reversal and the price may crash more.
Arweave crypto made a breakdown below a trendline support and in the previous weeks indicating a short term bearish dominance. Moreover, the AR crypto failed to reclaim above the trendline this week causing a continued selling pressure eroding nearly 23% of its value.
At the time of writing, the crypto was hovering close to $29.25 indicating a 2.81% rise in Intraday. It has a live market capitalization of $1.92 Billion and ranks 51st in the cryptoverse. Out of maximum supply of 66 Million tokens, 99.47% i.e. 65.65 Million AR tokens are currently in circulation.
From a technical point of view, the price seems to be taking support from the 200 day Exponential moving average of 200 days. The 200 day EMA might be the last defending zone before a possible trend shift. Now, if the bulls fail to hold the price above the 200 day EMA, it may indicate a trend reversal and the price may crash more.
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