ARB/USD drops to $ 1.15 as bears regain control. – Cryptopolitan

 Arbitrum price analysis shows that the ARB/USD pair is currently in a bearish trend. The market has been in a downtrend since the beginning of today. Although yesterday was bullish, the bears managed to take control of the market and push the price down to $1.15. Therefore, ARB/USD is ready to decline further and push back toward $1.14 support. Resistance for the Arbitrum price analysis is set at $1.18, and support is found at $1.14, either of which can be broken depending on the market. The ARB/USD pair is currently in a bearish trend and is expected to continue to decline in the short term. The price has declined by 1.03 percent in the past 24 hours, the market capitalization for the coin is currently $1.47 billion, and the 24-hour trading volume is $200 million.

Abrtrium price analysis 1-day chart: ARB declines to $1.15 after bearish movement

The one-day Arbitrum price analysis shows that the ARB/USD pair is currently in a bearish trend. It seems that the market has been losing momentum for the past 24 hours. The ARB/USD pair is currently trading at $1.15 after hitting highs of $1.18 and lows of $1.14, respectively. The market has been on a downtrend, as it lost around 1.03% of its value today. The ARB/USD pair is in a bearish trend as market sentiment remains negative.

The MACD indicator is currently in the bearish zone as the signal line is above the MACD line. The relative strength index (RSI) indicator for the ARB/USD pair is currently at 42.26, which indicates that the market is neither oversold nor overbought at the moment and that there is a possibility of a price rebound in the market. The market volatility is also low, suggesting that the market is in consolidation mode. The upper band of the Bollinger Band indicator is at $1.3971; on the other hand, the lower band is at $1.0417 for the ARB.

ARB/USD 4-hour price chart: Arbitrum price finds resistance at $1.18

The 4-hour Arbitrum price analysis shows bears are pulling the price down and seeming successful in their attempts. The price is progressively falling as the bears maintain their dominance. The last few hours had no real impact on the cryptocurrency. Today, the ARB/USD pair fluctuated between $1.3965 and $1.0399; it is now trading at $1.15 at the time of writing. The volatility for Arbitrum is comparatively high, and the Bollinger Bands movement shows both ends on a downslope with their average line above the price level, which shows the price might go down in the coming time. 

The moving average convergence and divergence (MACD) show a bearish crossover, and the RSI is also declining, suggesting that the MACD is also bearish, with a negative divergence forming. The RSI is also in bearish territory, indicating that the bears are in full control and any attempt at a rally could be short-lived. 

Arbitrum price analysis conclusion

Overall, the Arbitrum market is currently in a bearish trend as selling pressure remains high. The market is expected to continue its downtrend as the sentiment in the market remains negative. Investors remain cautious about the current economic conditions. Prices will continue falling if the selling pressure persists.

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.