The price action highlights that in the past the price surged wonderfully from $0.800 to $2.4000. However, the ARB crypto demonstrated a sign of decline as the price sank from a supply level of around $2.4000 on the chart.
The ARB crypto chart suggests that a big fall is likely in the coming sessions as it meets the resistance level and found a low at the current support zone.
The Arbitrum crypto asset is displaying bearishness and falling tendency as it plunges below the 20-Day EMA and approaches the 50-Day EMA to cut from above, reliant on the seller’s surge it could reach new lows.
Furthermore, the ARB crypto asset is displaying bearish characteristics as MACD is at 0.0051 and showing a bearish crossover. Meanwhile, the signal line is at -0.0313 and the histogram gap between both the lines are at -0.0262.
Additionally, the RSI is falling smoothly by facing resistance from 14-SMA, implying that the ARB crypto asset is losing momentum and can achieve new depths. Whereas, RSI is at 44.91 and 14-SMA smoothened line is at 48.90.
On analyzing the overall trend, the ARB crypto asset is expressing bearish behavior and shows that it has the opportunity to fall further. Meanwhile, it has attained bad performance in the last week, and last month by 1.89%, and 2.06%, respectively, implying a probable stable downward direction.
At press time, ARB crypto had registered a fall of 2.58% in the last 24 hours and was trading at $1.7161.
Therefore, if the ARB crypto price fails to stay above the $1.5475 level, it could decline further to the next big support.
However, if the demand for the crypto and buying momentum surges high, then the ARB asset price could turn around from the current level. The next goal for the ARB price is $1.9872.
Summary
The Arbitrum crypto asset is displaying bearishness and falling tendency and it seems like the crypto is close to a big fall, as crypto was forming lows near the current support zone.
Furthermore, the ARB crypto asset is displaying a bearish crossover. Meanwhile, the RSI is falling smoothly by facing resistance from 14-SMA, implying that the ARB crypto asset is losing momentum and can achieve new depths.
On analyzing the overall trend, the ARB crypto asset is expressing bearish behavior and shows that it has the opportunity to fall further. Therefore, if the ARB crypto price fails to stay above the $1.5475 level, it could decline further to the next big support.
Technical Levels
Support Levels: $1.5475
Resistance Levels: $1.9872.
