AR price exits the long-coming resistance trendline with a bullish reversal from the $9.28 mark resulting in a jump of 20%. Will the uptrend reach $12? The AR prices restart the bullish trend with a reversal from $9.28, resulting in a resistance trendline breakout and a jump of 20% over the last three days. Currently, the bullish engulfing candle of 12.70% with a spike in the trading volume is a trend continuation above the $12 mark. But, will the uptrend sustain above the $12 mark or a bearish reversal is inevitable? Key Points: The AR price action showcases a resistance trendline breakout. The bullish reversal delays the bearish crossover of the 50 and 100-day EMA. The intraday trading volume in Arweave is $30.15 million. Source – TradingView AR Technical Analysis The AR price shows a bearish trend from the resistance trend line accounting for a price dump of 40% within a month to reach the $9.28 mark. However, the recent reversal with an increase in the intraday trading volume breaks the downtrend and the resistance trendline with a 20% jump. The recent bullish reversal creates a triple white soldier pattern with a 12% jump today, resulting in a bullish engulfing candle. However, the uptrend might face opposition at the 100-day SMA close to the $12 mark. Moreover, the bullish reversal delays the bearish crossover between the 50 and 100-day SMA. However, if the prices continue the uptrend above the 100-day SMA, the buyers wi...
