Convergence

Arbitrum

Bitcoin

Divergence

The post <a href="https://coinpedia.org/price-analysis/arbitrum-breaks-down-its-crucial-levels-arb-price-to-record-new-low-soon/" rel="noopener noreferrer nofollow">Arbitrum Breaks Down Its Crucial Levels! ARB Price To Record New Low Soon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The crypto industry records a negative trend for the second straight day, following the news of delayed Bitcoin spot ETFs approval. Further, Arbitrum’s price has lost significant value during this time, indicating a short selling in the market.
The <a href="https://coinpedia.org/price-prediction/arbitrum-arb-price-prediction/" rel="noopener noreferrer nofollow">ARB price</a> has recorded a loss of over 7% within the past day, making it one of the top losers for the day. Arbitrum displayed a massive price action as the token gained over 30% in value during the past month.
For a brief period, the coin was seen trading in a narrow space between $0.8245 and $0.8687. Following the market surge, the price gained significant movement in value, breaking it out of the range.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/tYhLI_2ELE-pXDNITYuGdy4ZVYyxpjBmQcO8cyxSpGuREM9k2L7SCRIPNtsqkn0GkLJl1PCh6XRnW02WHlQ2ILaz4aLX0jybA9g1YqrCwBwWc29F-DlykyYkY66x5pZ84XIZPzIyPf_Y5kRp5YXyf9c" alt="Arbitrum Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ARB/USDT
 </figcaption>
</figure>
Arbitrum broke out of multiple resistance levels but was rejected at $0.9895, following which the price was seen trading sideways for a while. After this, the price regained momentum and added over 20% within the next week.
The price was then seen trading in a consolidated range between $1.0652 and $1.1317 for a while. The ARB price further jumped 15%, but the rally was short-lived as the price was rejected at the resistance level of $1.2258.
Following this, the price lost momentum and has displayed constant volatility in its price action. Recently, the price broke down its important support level of $1.0652 and is on the verge of testing its crucial level of $1 soon, of which the outcome is uncertain.
The Moving Average Convergence Divergence (MACD) displays a constant red histogram, indicating a strong selling over buying power in the market. Further, the averages show a constant decline in the chart, suggesting the price will continue to lose value in the coming time.
<h2 class="wp-block-heading" id="h-will-arb-price-regain-momentum">Will ARB Price Regain Momentum?</h2>
If bulls hold the price at this level, it will regain momentum and test its resistance level of $1.0652 soon. Further, if the bulls regain momentum, it will continue to rise and test its upper resistance level of $1.1317 in the coming days.
Maintaining the price at that level will set the stage for the price to attempt to test its resistance level of $1.2258 by the month-end.
Conversely, if the bears overpower the bulls and the price falls below the support level of $0.9895, the price will lose momentum and fall to test its lower support level of $0.9228 soon.
Moreover, if the bears continue to dominate the market, it will continue to lose value and prepare to test its lower circuit of $0.8687 in the coming weeks.

Arbitrum Breaks Down Its Crucial Levels! ARB Price To Record New Low Soon?

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