Summary
• Price declined from 4.57e-05 to 4.44e-05 amid uneven volume and bearish consolidation.
• RSI and MACD show weakening momentum, with RSI hovering near oversold levels.
• Volatility expanded mid-day, followed by a retreat to lower Bollinger Band levels.
• A potential support level formed around 4.44e-05 with bearish engulfing patterns.
• Turnover diverged from price, showing higher volume on dips than rallies.
Market Overview
Arweave/Bitcoin (ARBTC) opened at 4.53e-05 on 2025-12-09 at 12:00 ET, reaching a high of 4.57e-05 and a low of 4.44e-05 before closing at 4.44e-05 on 2025-12-10 at 12:00 ET. Total volume over the 24-hour period was approximately 1,252.13 units, with a notional turnover of 55.44 (in BTC equivalents).
Structure & Formations
Price formed a bearish consolidation pattern throughout the day, with a key support level emerging near 4.44e-05. Notable bearish engulfing patterns were visible in the 5-minute chart as the session progressed, signaling potential continuation of the downward trend. A doji near the session high at 4.57e-05 suggested indecision, while the 4.55e-05 level acted as a temporary resistance.
Moving Averages
Short-term moving averages (20 and 50 periods) on the 5-minute chart have dipped below the price, reinforcing the bearish bias. Longer-term averages are not provided, but daily trends appear to align with the downward momentum.
MACD & RSI
The MACD line turned negative and remained below the signal line, indicating a weakening bullish thrust.
. RSI declined toward the oversold threshold (~28), but no strong reversal is yet confirmed. Momentum appears to be slowing, with bearish divergence observed between price and the RSI.
Bollinger Bands
Volatility expanded during the afternoon, pushing price to the upper Bollinger Band before retracting. By the end of the session, price settled near the lower band, suggesting a contraction in volatility and potential exhaustion of the current move.
Volume & Turnover
Volume was uneven throughout the session, with spikes observed in the mid- to late afternoon. Turnover diverged from price, with higher notional value traded during dips rather than rallies, signaling a cautious bearish sentiment.
Fibonacci Retracements
The recent 5-minute swing from 4.57e-05 to 4.44e-05 shows a 61.8% retracement level near 4.50e-05. If the trend continues downward, the next support level could be near 4.40e-05, with 4.44e-05 acting as a critical short-term floor.
Moving forward, traders may watch for a test of key support at 4.44e-05 and any signs of bullish reversal. . A break below this level could indicate further downward pressure. Investors should remain cautious as divergence and thin volume suggest uncertain market conviction.
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