The popular altcoin Arbitrum (ARB), which attracted the attention of many investors with its Airdrop event last March, may be facing a big drop! Experts have revealed the technical levels for the popular altcoin! Here are the details…
Experts explained: This altcoin project may face a big drop in the near future!
cryptocoin.com As we have reported in the past months, the popular altcoin Arbitrum (ARB), which has attracted the attention of many investors with a large Airdrop event, has been experiencing a recent performance decline. As the experts announced technical levels for Arbitrum (ARB) price, Arbitrum (ARB) upsurge encountered an early resistance at $1.36 and returned to the 24-hour low of $1.31 where support was formed. Momentarily, the effect of the bears can be seen with a decrease of 1.95% up to $ 1.32.
If the bear market continues to test the $1.31 support level, the next support level to watch is $1.28. This level is vital for the bulls’ defense. But on the other hand, if the bullish strength recovers from this level, there could be a potential rally towards the $1.40 resistance level. However, during the bear domination, the market cap and 24-hour trading volume of the popular altcoin ARB are respectively; It decreased by 1.90 percent and 23 percent to $ 1.5 billion and $ 266 million.
Experts made technical analysis for Arbitrum (ARB) price!
On the other hand, experts made technical analysis for the ARB price and pointed to the indicators. The RSI is at 45.73 levels and with the movement below the signal line, experts say that the negative reign in the ARB market may continue. He explains the reason for this as this move represents a possible change in market sentiment. According to experts, this bear reign has the potential to continue as it has not yet reached the oversold threshold of “30”, so investors should be cautious.
On the other hand, the Rate of Exchange for the popular altcoin ARB also turns red at -0.56, indicating that the bearish momentum is picking up speed. However, this change in market mood does not look entirely negative, as some investors may view this drop as a buying opportunity.
However, the stochastic RSI on the ARB/USD price chart has dropped below the signal line at 48.37, adding to the negative momentum. This level and bearish action suggest that ARB price may have more downside potential in the near term, and traders with a bearish divergence in ARB may consider either shorting or selling their current positions to profit from this possible price drop.
The Know Sure Thing indicator ie -5.4763 on KST has dropped below the signal line, indicating more selling pressure in the ARB market. If this KST line continues to slide into the negative territory, the bearish bias on the price could intensify, pushing it below the support level.
The comments made by many experts are that ARB is one of the altcoins to be watched closely in the market, and experts say that ARB is facing bearish pressure with key support levels to watch. That’s why experts advise investors to be careful.
