Arweave (AR) Could Spike 40% if This Support Holds; COTI Price Eyes Key Level for Upside Potential
Arweave (AR) and COTI are showing signs of recovery amid market volatility lately, according to Rekt Capital’s newsletter. AR has rebounded 31% after deviating below its Macro Downtrend, positioning itself for a positive monthly close.
Meanwhile, COTI is climbing, aiming to reclaim a critical support area identified by Rekt. Despite these promising technical indicators, both cryptos have had price dips in the short term, highlighting the nature of the crypto market.
What you'll learn 👉
Arweave’s (AR) Price Analysis
Arweave has demonstrated resilience in recent weeks. The crypto has bounced back strongly, recovering 31% after a brief downside deviation below its Macro Downtrend. This recovery has placed AR back above the crucial support level, producing a long downside wick on the monthly chart.
The asset is now poised for a positive monthly close. This would confirm a successful retest of the Macro Downtrend as new support. Notably, this retesting process has been ongoing for three consecutive months, highlighting AR’s persistence in establishing a solid foundation.
Furthermore, Arweave has successfully reclaimed its position within the Monthly Bull Flag pattern. This development is significant as it could pave the way for a future breakout. Analysts are now eyeing the $43 resistance level as a potential target for AR’s next upward movement., which will be a 43% spike from current levels
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Show more +COTI’s Price Analysis
While COTI has shown signs of recovery, its rebound has been more modest compared to Arweave. The cryptocurrency is currently striving to reclaim the critical support area identified by Rekt Capital.
Moreover, this light blue zone on the chart represents a key level for COTI’s future performance. Although COTI hasn’t fully reclaimed this support area, there’s potential for a monthly close within the zone.
Such a close could be sufficient to classify the recent downside deviation as a successful retest attempt. Ideally, a monthly close above $0.1100 would remove all doubt regarding the retest’s success.
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Market Performance and Volatility
Despite these positive technical indicators, both Arweave and COTI have experienced recent price declines. According to CoinGecko data, AR’s price stands at BTC0.0004328, representing a 7.51% decrease in the last 24 hours. Similarly, COTI is trading at BTC0.051512, down 4.57% over the same period.
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