Arweave Token Price Prediction: Will AR Hit $50 This Week?

The AR price trend shows a failed inverted head and shoulder pattern. The increasing supply puts the 50D EMA at risk. A breakdown under the 50D EMA could drop the AR price to $25.

The AR price trend showcases a failed bullish attempt to surpass $50 with the breakout in the $42 zone. With a brawl at $48, the higher price rejections showcase a strong overhead supply that leads to a bearish turnaround.

The massive bearish candles crack under crucial resistance turned support zone at $42, and now the dynamic support of the 50D EMA is up for the test. As the average line leads to consolidation, the rising supply might drop the AR price to $25.

Currently, the AR price trades at $37.36 with an intraday fall of 4.31%, cracking under the average line. Moreover, the bearish engulfing candle with the higher price rejection hints at an extended downfall.

Technical indicators

RSI: As the AR price consolidates at the 50D EMA, the daily RSI line showcases a sideline trend in the upper half.

Will Arweave Token Price Hit $50?

With the bearish candle cracking under the 50D EMA, the chances of a bullish recovery in the AR price trend are less. Moreover, as per the trend-based Fibonacci level, the breakdown under the 50% level at $42 might halt at the 38.20% Fib level at $33.

Optimistically, a bullish turnaround from the 50D EMA or the $33 support could propel the altcoin price to surpass $42 for another attempt at the $50 milestone.