What's Ahead For AR Price?

30 Sep

The daily chart for AR price reveals a strong start in Q1 and Q2 of 2024. By the end of May, the price peaked at $49.51 but then declined in June.

Selling pressure from a developed supply zone pushed the price down to $16 by August in Q3 2024. However, bulls stepped in on August 5th, halting the decline.

Throughout September, the price attempted to rise but was hindered by the 200-day EMA on the daily chart.

Overall, the price action is confined within a descending wedge. Depending on momentum, it could rise towards the upper boundary, potentially doubling in value.

Conversely, if bearish pressure persists, the price might fall back to the lower boundary. A breach of this lower boundary could lead to further bearish momentum.