Cryptocurrency Arbitrum (ARB) has recently experienced a downfall in market prices as its technical indicators point to a bearish momentum. The bears tested the $1.31 support level but have been unable to breach it as of press time. If the 24-hour low breaks, the next key support level lies around $1.28. On the other hand, if the bullish power propels the price up to the $1.40 resistance level, an upward rally may be in play.

Simultaneously, Arbitrum (ARB) market capitalization and 24-hour trading volume have dropped slightly, though still at a notable rate of 1.90% and 23.96%, respectively, to about $1,683,756,070 and $266,870,963. The Relative Strength Index (RSI) is at a level of 45.73 indicating that the bearish scenario is likely to continue in the near future. Furthermore, The Rate of Change (ROC) has gone further South in the red zone at -0.56, signifying more bearishness in the cryptocurrency's market sentiments.

Stochastic RSI has gone below its signal line with a value of 48.37 and might continue to travel down the chart, making room for more bearish activity. In such a time, market traders may consider shorting the arbitrum or selling their current assets to maximize profits. Also, the Know Sure Thing (KST) with a value of -5.4763 and descending into negative territory suggests more selling pressure for the cryptocurrency.

In conclusion, Arbitrum (ARB) appears to be going through bearish challenges in the present market. Price action is constantly fluctuating and in order to minimize losses, traders must watch out for the two main support levels of $1.31 and $1.28. Also, they must keep an eye out for chances to profit from the cryptocurrency's bearish sentiment by shorting.



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