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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