Arweave has finally broken out of a downtrend that held it back for months. The breakout happened around the $7.50 to $8.00 price range, which had been a tough resistance level to crack.
What makes this breakout special is what happened next. Instead of just shooting higher, AR pulled back to test that same $7.50-$8.00 zone again. This time, though, it held as support instead of resistance. When a cryptocurrency does this, it shows that buyers are confident enough to step in at these levels.
The technical picture looks promising. Based on the chart pattern by Crypto Kartha, AR price could potentially climb to $13.32. That would mean about a 59% gain from where it broke out. This target comes from measuring previous price movements and projecting them forward using standard technical analysis methods.
Is a Rally Next for AR Token?
Crypto Kartha did an analysis of the price movement on X. The combination of breaking the downtrend and holding support creates a solid setup. That descending trendline had been respected for months, so breaking it carries significant meaning. When these long-standing technical levels finally give way, it usually signals a real change in how the market views the asset.
The retest phase was crucial here. After breaking above resistance, AR didn’t just keep climbing blindly. It came back down to prove that the breakout was legitimate. The fact that it bounced from this level shows buyer interest is genuine and sustainable.
Read Also: Stellar (XLM) Poised for Breakout as Institutions Quietly Accumulate
While volume data isn’t visible in this particular analysis, successful breakouts typically need strong trading activity behind them. Assuming volume supported this move, it adds weight to the bullish case.
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