$ARDR Has been exhibiting breakout potential, with some users noting a rapid price increase following a pattern break. ARDR broke a falling wedge and rose 83% in a spot trade within 6 hours, indicating a strong bullish move if accurate. Let’s assume a current price around $0.08–$0.10 based on this sentiment, though exact prices should be verified with live market data.
Key Technical Patterns
Falling Wedge Breakout:
ARDR breaking out of a falling wedge on the daily and weekly charts. A falling wedge is typically a bullish reversal pattern, characterized by converging trendlines with lower highs and lower lows. A confirmed breakout above the upper trendline often signals a shift from bearish to bullish momentum.
If this breakout holds, it could indicate the start of a significant upward trend. $0.16, $0.28, and even $0.42 in the coming weeks, suggesting potential gains of 60% to 400% from a $0.10 base.
Support and Resistance Levels:
Support: ARDR found support near the lower edge of the wedge, potentially around $0.08 or slightly lower . This level may now act as a floor if the price retraces.
Resistance: Immediate resistance levels to watch are around $0.12–$0.13 and higher at $0.16. A break above $0.13 could confirm stronger bullish momentum.
Momentum Indicators:
RSI (Relative Strength Index): RSI without live data, the rapid price surge RSI might be approaching overbought territory (above 70) on shorter timeframes like the 1-hour or 4-hour chart. On the daily chart, it’s likely rising from neutral (50) toward 60–70, indicating growing momentum but not yet overextended.
If the breakout is genuine and volume remains strong, ARDR could test $0.12–$0.16 soon. The rapid rise reported today suggests momentum traders are in control, but a pullback to retest the breakout level (around $0.09–$0.10) is possible before further gains.
If the breakout fails (e.g., price falls back below $0.09 with low volume), it could retreat to the $0.08 support or lower to $0.06, aligning with bearish web predictions.
DYOR!!