Arweave is a blockchain-technology-based open-source storage protocol. Users can permanently store their applications and data on the Arweave platform. It is supported by ever-lasting and sustainable endowments. It is highly secure as indefinite preservation of history or data prevents others from duplicating or editing user data. AR is the main customized token of this ecosystem. Past Trends On March 19, 2021, AR opened at $17.45. As of March 25, 2021, AR closed at $20.86. Thus, in the past week, the AR price has surged by approximately 20%. In the last 24 hours, AR has been trading between $19.61-$22.82. https://ift.tt/2PpqGxz Day-Ahead and Tomorrow Presently, AR is trading at $22.26. The price has surged from the opening price of $20.86. Thus, the market looks bullish. The MACD and signal lines are positive. However, a bearish crossover by the MACD line over the signal line has occurred. Moreover, both the lines are very close to the zero line and may change signs soon. Thus, a price pullback is on the anvil. The OBV indicator is tapering down. Hence, selling volumes have surpassed buying volumes in the AR market. Heavy selling activity will exert downward pressure on the AR price. Thus, the AR price is likely to start declining. Currently, the RSI indicator is at 62%. It faced a bullish swing rejection at 42% and rose to the current level. Thus, buying pressures are high. There is a positive divergence here. Hence, we can expect the price to go up further as the bulls are regaining strength. AR Price Analysis Presently, the price is trading above the first Fibonacci pivot resistance level of $22.32. Thus, after an intermittent price pullback, we may expect the price to break out of the second resistance level of $23.08, in some time. By day close, the price may break out of the third resistance level of $24.31 as well. The price has tested and surpassed the 23.6% FIB retracement level of $22.06. Thus, the price upswing is strong and we can expect the bull-run to continue today and tomorrow. However, intermittent price pullbacks can be expected as a part of the price correction process.
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