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alorse

ARUSDT Primed for Breakout: Long Trade to $45.5 Resistance

Long
AR Linear Perpetual Futures Contract (PHEMEX:ARUSDT.P)  
alorse Updated   
PHEMEX:ARUSDT.P   AR Linear Perpetual Futures Contract
Trend Analysis Fundamental Analysis ARUSDT arlong arweavesignals arweavelong
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trendanalysis fundamental arusdt arlong arweavesignals arweavelong
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)
Comment:
It hit the stop loss very quickly, although it was very tight, it seems that the market is going to fall a little.
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