ð Over the past 21 days, ARUSDT has been consolidating in a range since it reached the high of $6.28 on July 23. Following this peak, a correction ensued, with the price experiencing a precise bounce off the 61.8% Fibonacci support level. Remarkably, AR has managed to hold above this critical support, leading to the formation of a robust demand area in its vicinity.
ðAs the bulls successfully defend this support level, there is a high probability that the price will resume its upward movement. #ARUSDT is likely to target the top of the range and potentially extend further to test the nearest Fibonacci resistance at 78.6% Fibs. This scenario could result in a nearly 20% price increase in a relatively short timeframe.
ðDespite the strong bullish probability, it is crucial to remain open to an alternative scenario where the price continues to decline. This scenario would only materialize if #AR breaks below the current support, thereby granting the bears control and potentially pushing the price down to the technical and psychological support level at $5.
Stay tuned Paradisers, as #ARUSDT presents intriguing trading opportunity amidst its range trading dynamics! ðī
ðAs the bulls successfully defend this support level, there is a high probability that the price will resume its upward movement. #ARUSDT is likely to target the top of the range and potentially extend further to test the nearest Fibonacci resistance at 78.6% Fibs. This scenario could result in a nearly 20% price increase in a relatively short timeframe.
ðDespite the strong bullish probability, it is crucial to remain open to an alternative scenario where the price continues to decline. This scenario would only materialize if #AR breaks below the current support, thereby granting the bears control and potentially pushing the price down to the technical and psychological support level at $5.
Stay tuned Paradisers, as #ARUSDT presents intriguing trading opportunity amidst its range trading dynamics! ðī
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