Technical Analysis: Arweave up Over 44% in the Last Week, Monero Starts Lower

Arweave, which rose by over 44% in the last week, was once again in the green, trading over 10% higher on Monday. This comes as monero slipped in today’s session.

Biggest gainers

Following a bearish January, crypto markets began to rebound within the last week, with arweave being one of the biggest gainers in that period.

To start the week, AR/USD is currently trading 10.32% higher, hitting an intraday peak of $39.81 in the process.

This comes as the decentralized storage network rose by 44% in the last 7-days, as it continues to move towards the $40 mark.

Looking at the chart below, the move began after arweave rallied from its recent support of $29.40, where it traded on Friday, leading to four consecutive sessions of gains.

As a result of this run, the 14-day RSI now tracks at 50.25, which means prices are neither oversold or overbought.

As of writing, cryptocurrencies were trading 1.37% higher on the day, however, there are a few notable bears to start the week.

Monero was one of them, with XMR/USD falling by as much as 4% during Monday’s session, leading to an intraday low of $141.22.

Looking at the chart below, today’s decline has resulted in monero hitting its recent support of $141.90, after trading at resistance of $155.80 only yesterday.