Arweave (AR) is currently trading at $3.74, reflecting an 8.70% increase over the past 24 hours. The daily trading range has been relatively narrow, with a high of $3.80 and a low of $3.42, indicating a stable short-term price action.

The trading volume of approximately $27.5 million represents 11.23% of Arweave’s market capitalization, suggesting solid liquidity. The hourly moving averages show a slight bearish trend in the 8 SMA, but improvements in the longer-term averages indicate potential for sustained upward momentum.

The 1-hour Relative Strength Index (RSI) is at 83, indicating an overbought condition which could lead to short-term price corrections. In contrast, the 7-day RSI sits at 55, suggesting a more balanced market sentiment and potential for continued growth.

Over the past week, Arweave has appreciated by approximately 10.14%, while the 14-day price change shows a robust increase of 18.73%. However, the 30-day price change reveals a decline of around 10.01%, indicating potential resistance at higher levels following recent gains.

Given that the price is significantly below its all-time high of $89.24 achieved in November 2021, there remains substantial upside potential. The current price action, combined with the favorable longer-term moving averages, supports a bullish outlook, but the overbought 1-hour RSI signals caution for immediate trading.

In conclusion, based on the analysis of technical indicators and recent price movements, a Buy rating is warranted for Arweave (AR). The strong volume and positive trends in longer-term moving averages provide a compelling case for entering a position, despite potential short-term corrections.