AR/USDT Double top, Potential back test on the demand or support

31 mars

💎 AR has recently undergone notable market dynamics, characterized by the formation of a double-top pattern. This pattern typically signifies a bearish trend reversal, with the target set at the demand area.

💎 However, if AR manages to break above the previous high at $47.5, it would invalidate the pattern, indicating a potential continuation of the upward movement toward the strong resistance area.

💎 Should the double top pattern prove valid, AR is likely to back-test the demand area around $25.7 - $22. This demand area holds significant importance, as failure to bounce from here and continue the upward movement would result in further downward pressure, potentially leading to the support area.

💎 Bouncing from the support area is crucial for AR, and it must reclaim the price above the demand zone at $25.7. Failure to do so would signify continued downward momentum, with the price likely to decline further.