Arweave Price Prediction – How Much Will AR Be Worth in 2021?

Arweave Price Prediction – How Much Will AR Be Worth in 2021?
  • Bullish Arweave price prediction ranges from $20.94 to $33.66.
  • Arweave prices might also reach $40 soon.
  • Arweave bearish market price prediction for 2021 is $13.18.

In Arweave (AR) price prediction 2021, we use statistics, price patterns, RSI, and much other information about AR to analyze the future movement of the cryptocurrency. 

Arweave is a decentralized storage platform that seeks to provide a platform for the indefinite storage of information. Moreover, explaining itself as a collectively owned hard drive that will never be forgotten. More so, the network initially hosts the permaweb. Notably, permaweb is a permanent decentralized web with many community-driven platforms and applications. 

Let us see about the Arweave price prediction 2021.

Current Market Status of Arweave (AR) 

According to CoinGecko, the Arweave price is trading at $22.20 with a 24-hour trading volume of $97,107,622, at the time of writing. However, Arweave has increased by 0.8% in the last 24 hours. 

Currently, Arweave trades in cryptocurrency exchanges such as Binance, FTX, Huobi Global, HitBTC, and ZT.

Arweave (AR) Price Prediction 2021

Arweave (AR) holds the 97th position on CoinGecko right now. Arweave price prediction 2021 explained below with a daily time frame. 

AR/USDT Showing Ascending Channel Pattern (Source: TradingView)

The above chart shows the Ascending Channel Pattern of AR.  An ascending channel is the price action that takes place between upper inclining equal trendlines. In fact, higher highs and higher lows form this price pattern.

Currently, AR is waving at $22.06, which already crossed its breakout. After this, AR would continue to follow the pattern where the price chart would show an uptrend. If the trend reverses, then the price of AR may fall to $12.65.

Arweave (AR) Support and Resistance Level

The below chart shows the support and resistance level of Arweave (AR). 

AR/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is observed that the following are the resistance and support levels of Arweave.

  • Resistance Level 1 – $20.94
  • Resistance Level 2 – $33.66
  • Support Level 1 – $13.81
  • Support Level 2 – $7.06
  • Support Level 3 – $4.13

The chart depicts the bullish performance of Arweave over the previous month. However, this trend will continue to reach a resistance level at $33.66 soon. Even more, if the trend reversed then Arweave might fall to $7.06 presenting a bearish signal.

Arweave (AR) Average Directional Index (ADX)

Let us now look at Arweave’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

   AR/USDT ADX (Source: TradingView)

The above chart represents the ADX of Arweave. Currently, Arweave lies in the range at 52.125, so it indicates a strong trend. This shows that the price of ADX can go bullish in the future.

Conclusion

The Arweave is one of the cryptos which is great for long-term investment. In addition, Arweave’s price prediction is bullish for the short term. It has a good chance of reaching $20.94 by the end of this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the Arweave ecosystem, the performance of Arweave would rise reaching $33.66 very soon. But, it might also reach $40 if the investors believe that Arweave is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.