ARUSDT First time above the 1D MA200 in history!*** ***
For this particular analysis on the Arweave we are using the ARUSDT symbol on the OKX exchange.
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The idea is on the 1D time-frame where AR broke today above its 1D MA200 (orange trend-line), for the first time ever! That alone is a major bullish break-out but it is not the only one. The price also broke today above the Lower Highs trend-line that started on the January 04 High and has been keeping the token within its Bear Cycle. We can claim that today was the first step to establish the new Bull Cycle.
The 1D MA50 (blue trend-line) is supporting, the 1W RSI is steadily rising since the June 19 Bottom and we are past a 4H Bullish Cross (red 4H MA50 crossing above the yellow 4H MA200). It is natural to see a pull-back now, first due to profit taking and second because the price hit the Resistance Zone formed from the July 18 and July 31 Highs. A rejection can potentially re-test the 1D MA50 as a Support. A closing above the Resistance Zone and more importantly the Channel Up (grey) that seems to have been developed, can target the next Resistance, the 42.00 April 04 High.
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