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Arbitrum price analysis: ARB slips down to $1.16 as bears overtake bulls

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TL;DR Breakdown

  • Arbitrum price analysis shows a downtrend
  • ARB/USD faces resistance at the $1.21 level
  • Support for the coin is seen at $1.14

The Arbitrum price analysis shows a bearish trend as the token has experienced a significant selloff in recent trading sessions. The ARB/USD pair is trading at $1.16, which is a 3.88 percent decrease from the daily high of $1.21. The bears have overtaken the bulls, pushing prices lower in the short term.

The market for ARB price opened the day trading in a bullish mood as the price increased to a high of $1.21. However, Arbitrum faced selling pressure at this level and started to drift lower. The bearish sentiment continued throughout the day, pushing the token’s price further down, targeting the $1.14 support level.

Arbitrum price analysis 1-day price chart: ARB/USD demotes to $1.16 after a bearish rush

The daily Arbitrum price analysis shows a downward trend for the market, as strong selling pressure was observed during the day. The price curve shows a downward slope due to the ongoing bearish wave. Red candlesticks are marking bearish supremacy, and the price moved down to the $1.14 low in the past 24 hours. Although the bulls controlled the market earlier, the current trend is relatively bearish. The price is still higher than the moving average (MA) value of $1.16, but the gap is reducing in size.

image 692Arbitrum price analysis: ARB slips down to <img decoding=
ARB/USD 24-hour chart. Source: Tradingview

The Moving Average Convergence Divergence (MACD) indicator displays a bearish market structure due to the continuous downtrend. The MACD line is in the negative zone and showing an increase in selling pressure during the day as the signal line moves below the -0.045 level. The Relative Strength Index (RSI) is also in the neutral zone, currently at 41.80.

Arbitrum price analysis 4-hour chart: Bearish gathers strength against bulls

Arbitrum price analysis shows that the bears are again occupying the leading position on the hourly price chart, as the price followed a downward movement in the past four hours. Although there have been constant variations in the price trends over the past few hours, the Bears are currently winning the game. The coin value has been devalued to $1.16 as the bears have made a successful comeback.

image 691Arbitrum price analysis: ARB slips down to <img decoding=
ARB/USD 24-hour chart. Source: Tradingview

The moving average (MA) is also in the bearish zone, with a 50-day MA value of $1.16 and a 20-day MA value of $1.14. The MACD is also in the negative region, with the MACD line showing an increase in selling pressure. The RSI value is at 44.77, which is still below the midline, indicating a bearish market sentiment. The chart shows that the coin value may continue to decline until it tests the $1.14 support level in the upcoming hours.

Arbitrum price analysis conclusion

The Arbitrum price analysis shows a bearish trend for the coin, as the bears have become increasingly powerful during the day. The token has decreased its value to $1.16 and is trading near its support level of $1.14. The technical indicators are also in the negative zone, suggesting that the bearish wave is likely to continue unless a strong support level appears.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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