AR investors barely attempt to hold above $30 after the Dump The price of the Arweave coin is rising after having formed a low in the past six months and suggests a V-shaped recovery.
The AR investors are trying to hold the current price above the half-line of the Bollinger Bands indicators over the daily price chart.
The Arweave coin price demonstrates the fast rebound from the previous low, which might work as critical support, and the $40-mark is the ideal level for the bulls' short-term resistance. As per Fib retracement, the currency's current price is barely above the 0.236-level; bulls should wait for the daily price candle to close above it.
The daily RSI is approaching the half-line (50-Mark) over the daily price chart, reflecting the sideways momentum. Meanwhile, the Stoch RSI is into the overbought territory (K is at 79-mark and D is at 87-mark).
Conclusion
For the bullish momentum, bulls have to push the price higher above 0.236-level of Fib retracement. Then $40 only remains the vital bullish hurdle of the short-covering.
Resistance level- $40 and $50
Support level- $23 and 20
