Arweave has formed a large falling wedge (in blue), a bullish formation.
This 3-day timeframe shows RSI already reached the oversold area and a bounce is in order. The issue is that resistance is not far away at just under $19.
Should AR move above $19, then a break above this wedge becomes likely.
Price could also escape this formation by simply moving sideways and forming a prolonged bottom depending on the market conditions.
Bias is somewhat bullish, but I am not convinced price can leave this formation just yet.
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This 3-day timeframe shows RSI already reached the oversold area and a bounce is in order. The issue is that resistance is not far away at just under $19.
Should AR move above $19, then a break above this wedge becomes likely.
Price could also escape this formation by simply moving sideways and forming a prolonged bottom depending on the market conditions.
Bias is somewhat bullish, but I am not convinced price can leave this formation just yet.
Like and follow if you liked this idea.
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.