Pirate Chain Price Analysis: Is ARRR Going To Be The Next Monero In Crypto Market

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  • Pirate Chain price levels drop from the high of $14.85 to $11.25 on intraday sessions
  • The ARRR/BTC pair was trading up by 9.90% at 0.0001578 BTC
  • The 24-hour volume in Pirate Chain is positive by 0.30% at $5,266,602

The daily technical chart of Pirate Chain forecasts price action is showing strength and recovering from the 50-EMA. According to pivot points, ARRR’s critical support level is $8.60. Whereas if it moves upside, the crucial resistance to watch is $15.80

Hence, the chart also presents a dragonfly Doji candle showing both bears and bulls cannot gain control over the coin.

The Exponential Moving Average (EMA), consisting of EMA 20 & 50, acts as solid support in the coin’s price momentum. EMA 20 is above the EMA-50 line, indicating bullish momentum. Investors may notice the price pullback from the 50-EMA and are trying to break above the EMA-20. So if the price remains above both EMA, it will ensure ARRR’s positive trend.

The MACD indicator (Bearish) with the value of 0.05 indicates a sell signal in the coin. A negative crossover beneath the signal line is visible on intraday sessions considered to be under selling pressure. Investors can observe faded red bars in the histogram.

The volume of (1.93K) showcases above the Volume MA (2.44K) of 20-days. The investors in Pirate Chain are maintaining moderate volume in the order book, which results in the recovery of the ARRR. Investors may also observe low volume in the chart, Expecting a big move soon.

Parabolic SAR gave a sell signal on May 13. No signs of trend reversal can be observed until now, a bad sign for investors in the coin.

Pirate Chain Price Drops Due To Overall Market Sentiments

The Pirate Chain price was trading at $12.45 with a 13% positive daily return. Technically, the price took support from EMA-50 and is showing strength. MACD Indicator showcases a negative crossover beneath the signal line in the index. Both EMA is moving in a positive direction. With overall market sentiments, the price may hit above the resistance level of $15 on future trading sessions, which will give up to a 40% return to the investors.

Resistance: $15.80

Support: $8.60

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