1. BITBILIHome
  2. Article

Arbitrum price analysis: ARB slips back to a $1.15 margin after strong bearish run

• 102 views

TL;DR Breakdown

  • Arbitrum price analysis indicates a bearish trend
  • ARB/USD prices have set support at $1.14
  • Arbitrum prices are facing resistance at $1.17

Arbitrum price analysis is indicating a decline in price today. The bears have won the leading position as the selling pressure has formed again and the price is decreasing again. The value of the token has dropped below $1.20 and is currently trading at around $1.15. The market sentiment for the Arbitrum token is bearish compared to the overall market sentiment, and it is expected to remain so in the near future. The sellers are still active and have been dominating the trading volume. This has caused a sharp decline in price as well. The 24-hour trading volume of the token has reached $175 million, and the market cap currently stands at $1.4 billion. 

Arbitrum price analysis 1-day chart: ARB drops below $1.15 following a downward slide

The 1-day Arbitrum price analysis reveals that it has failed to break above the $1.17 resistance level and continues to retrace. The token found strong support at the $1.14 mark, but the price action is still bearish overall. If the bears remain in control for a prolonged period, then we can expect further downside movement ahead. On the other hand, if the bulls manage to break above the $1.17 level, then we can expect some price recovery in the near future. 

image 3Arbitrum price analysis: ARB slips back to a <img decoding=
ARB/USD 1-day price chart, Source: TradingView

The Bollinger Bands indicators on the 1-day chart for ARB/USD are currently in a bearish mode and are indicating that the market is in a downtrend. The 50-moving average line is above the 100-moving average line, which further increases the bearish pressure. The relative strength index (RSI)  indicator has dropped to 51.67, which confirms that the market is neither oversold nor overbought. 

ARB/USD 4-hour price chart: Price stumbles at $1.15 as bearish signal continues

The 4-hour Arbitrum token shows that bearish sentiment has been prevailing for the past few hours. The price has been rejecting the $1.17 resistance level and is currently trading around the $1.15 level. The ARB price has declined by over 1.12% in the past 24 hours, and the bears are likely to remain in control for some time. Therefore, it can be concluded that the Arbitrum token is still in a bearish zone and could continue falling for some time. 

image 1Arbitrum price analysis: ARB slips back to a <img decoding=
ARB/USD 4-hour price chart, Source: Trading View

The moving average (MA) line is trending downward, which is a bearish sign. The Relative Strength Index (RSI) indicator has dropped to 41.19, indicating that the sellers are in control of the market. The market volatility for the token is also low, indicating that the price movement in the near future might not be very volatile. The Bollinger Band indicators are in a bearish mode and are showing that the market is in a downtrend. 

Arbitrum price analysis conclusion

In conclusion, this indicates that the Arbitrum token is still in a bearish zone and there could be further downside pressure ahead. The bears are dominating the market, and therefore traders should look to go short on this token. The market sentiment for the ARB token is bearish, and it can be expected to remain so in the near future. Therefore, traders should look for entry points to go short on this token and set tight stop-losses.

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.

文章来源于互联网:Arbitrum price analysis: ARB slips back to a $1.15 margin after strong bearish run

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月4日 23:00
Next 2023年6月5日 01:30

Related articles

  • 7-Eleven launches free Slurpee NFTs for 96th anniversary

    TL;DR Breakdown 7-Eleven is launching free Slurpee NFTs on Polygon Network as part of its celebration as it turns 96 The collectibles are only licensed to the collector and cannot be sold or transferred to a third party Food and drink brands are entering the fast-rising NFT space Description 7-Eleven, a global convenience store franchise, announced that it was launching free Slurpee NFTs on Polygon Network as part of its celebration as it turns 96. The sugary collectible game, available on mobile devices, features a virtual 7-Eleven Slurpee cup with four flavors: Pina Colada, Blue Raspberry, Cherry, and Summertime Citrus. In its press release, … Read more 7-Eleven, a global convenience store franchise, announced that it was launching free Slurpee NFTs on Polygon Network as part of its celebration as it turns 96. The sugary collectible game, available on mobile devices, features a virtual 7-Eleven Slurpee cup with four flavors: Pina Colada, Blue Raspberry, Cherry, and Summertime Citrus. In its press release, the 7-Eleven Executive Vice President, and Chief Marketing & Sustainability Officer, Marissa Jarratt, mentioned that they are always…

    Article 2023年7月13日

  • Gemini and Genesis File Motion to Dismiss SEC Lawsuit

    TL;DR Breakdown Gemini and Genesis jointly filed a motion to dismiss the SEC lawsuit against their “Earn” product, which offered yields to customers against their crypto deposits. The crypto exchange aims to recover over $1.1 billion in assets for approximately 232,000 Earn users affected by Genesis’ bankruptcy. The companies are engaging in mediated negotiations and collaborative restructuring to find a resolution. Gemini, a prominent cryptocurrency exchange, and Genesis Global Capital, a bankrupt crypto lender, have jointly filed a motion to dismiss the Securities and Exchange Commission’s (SEC) lawsuit against their “Earn” product. The lawsuit alleges that Gemini Earn, a service that allowed customers to earn yields on their crypto deposits, violated securities regulations by offering unregistered securities.  Gemini and Genesis have argued that Gemini Earn should not be classified as a security, asserting that the transactions were essentially loans. In their legal filings, the companies are seeking the dismissal of the complaint or, alternatively, the removal of the SEC’s requests for a permanent injunction and disgorgement. Contents hide 1 Challenging the Classification of Gemini Earn 2 Mediated Negotiations and Collaborative…

    Article 2023年5月29日

  • Netherlands pushes for tighter EU regulations on crypto

    TL;DR Breakdown The Netherlands government is pushing for stricter EU regulations on digital currencies in consumer apps and video games to protect consumers, especially children. Concerns include the difficulty in tracking spending and the potential for software developers to manipulate digital coin values. Description The Netherlands government has voiced its concern over the increasing use of digital currencies in consumer apps and video games, stressing the need for stricter consumer protections in the European Union, especially for young users. This move underscores a greater push for a tighter regulatory framework surrounding cryptocurrencies, ensuring they’re used responsibly and effectively, particularly … Read more The Netherlands government has voiced its concern over the increasing use of digital currencies in consumer apps and video games, stressing the need for stricter consumer protections in the European Union, especially for young users. This move underscores a greater push for a tighter regulatory framework surrounding cryptocurrencies, ensuring they’re used responsibly and effectively, particularly within the burgeoning digital environment. Netherlands’ call for stricter protections As an increasing number of consumers delve into the world of digital coins…

    Article 2023年7月21日

  • IMF drops bombshell on central banks in inflation battle

    TL;DR Breakdown The IMF’s deputy head, Gita Gopinath, suggests central banks may need to tolerate inflation above their 2% target longer to prevent a financial crisis, especially among heavily indebted countries. The IMF warns that enduring higher inflation could make price growth more entrenched, referencing the inflation issues of the U.S. in the 1960s. Gopinath advises that central banks should be prepared to react strongly to persistent inflation signs, even if it cools labour markets significantly. Description The fight against inflation by central banks worldwide could be facing a significant shift in strategy, according to recent comments by the deputy head of the International Monetary Fund (IMF). As an influential financial authority, the IMF’s perspective could significantly impact the tactics central banks use to combat rising inflation rates. Enduring inflation to ward … Read more The fight against inflation by central banks worldwide could be facing a significant shift in strategy, according to recent comments by the deputy head of the International Monetary Fund (IMF). As an influential financial authority, the IMF’s perspective could significantly impact the tactics central banks…

    Article 2023年6月29日

  • Pro-XRP lawyer falls victim to latest cyber intrusion

    TL;DR Breakdown Pro-XRP lawyer John Deaton faced a phone hack on June 4, which occurred during a relentless cyberattack that spanned several days. Deaton has gained recognition for his strong stance against regulatory enforcement measures implemented by US agencies. The incident highlights the importance of cybersecurity within the crypto industry and the need for vigilance in safeguarding personal accounts and information. Pro-XRP lawyer John Deaton faced a phone hack on June 4, which occurred during a relentless cyberattack that spanned several days. Deaton, known for representing over 76,000 XRP token holders in the Ripple vs. SEC lawsuit, experienced unauthorized access to his Twitter account. The hackers used his account to promote a cryptocurrency called $LAW token, which currently has a negligible market cap. CryptoLaw, an account associated with Deaton and managed by his legal team, promptly responded to the hacker’s tweets, clarifying that the messages did not originate from Deaton himself. The team assured followers that immediate steps were being taken to rectify the situation and address the breach. 🚨John Deaton’s phone has been hacked today after a relentless cyberattack…

    Article 2023年6月8日
TOP