Arbitrum (ARB) is one of the top growing altcoins today, with its price currently residing among the top positions on CoinMarketCap's trending list. Recently, prominent crypto trader Mac (@MacnBTC) tweeted out that the crypto's price is in a downtrend, but he is waiting for the ideal time to start buying the altcoin again. Over the past 24 hour period, ARB has seen its price decline by 7.43%. It has also shown similar performances against Bitcoin (BTC) and Ethereum (ETH), at press time, it is down 7.08% against BTC and 6.20% against ETH.

Currently, ARB is trading close to its latest 24-hour low at $1.32 and its daily high stands at $1.45, suggesting that the altcoin could be headed for the next key support level. Technical indicators also suggest that ARB's price could be on the decline, with the 9-day EMA line set to cross bearishly below the 20 day EMA line and the daily RSI indicator flagging bearish.

Nonetheless, if the crypto's price is able to close, at the very least, above the $1.41 level, then this bearish narrative could be invalidated. With the crypto market becoming more unpredictable, it is important to keep in mind the importance of remaining vigilant. Investors should always do their own due diligence and research before investing in any asset and must be aware of the inherent risks in the market. As such, it'll be interesting to monitor ARB's market performance over the next 24 hours, and potentially get insight into the future trend of the coin.



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