ARUSDT Primed for Breakout: Long Trade to $45.5 Resistance

Arweave (ARUSDT) is currently trading at a crucial support level around $42.32, a zone that has acted as a resistance in recent 1-hour charts. This presents an attractive opportunity for a long trade, as the price is likely to bounce off this support and seek higher levels.

Technical Analysis:

• Key Support Zone: The current price is at the lower end of a trading range, indicating a potential reversal point.
  
• Bullish Divergence: The MACD indicator suggests bullish divergence, hinting at a potential trend reversal.
  
• Positive Fundamentals: Recent fundamental developments, including partnerships and growing adoption, support a bullish outlook.
  
• Higher Timeframe Trend: The overall trend on higher timeframes remains bullish, aligning with the long trade setup.
  

Proposed Long Trade:

Entry Price: 42.32 USDT (current price)
Take Profit: 45.50 USDT (resistance level)
Stop Loss: 40.8 USDT (below support zone)

Bình luận:

It hit the stop loss very quickly, although it was very tight, it seems that the market is going to fall a little.