2024

Arbitrum

Rise

The post <a href="https://coinpedia.org/price-analysis/altcoins-experience-massive-correction-arb-price-on-a-path-to-record-new-low-soon/">Altcoins Experience Massive Correction! ARB Price On A Path To Record New Low Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto market displays massive price volatility as top altcoins continue to record constant fluctuations in their respective portfolios. Further, the <a href="https://coinpedia.org/price-prediction/arbitrum-arb-price-prediction/">Arbitrum price</a> has experienced a correction of over 10% within the past 24 hours, making it one of the top losers of the day. 
The ARB coin price traded in a closed range between $1.0380 and $1.2036 for a brief period, following which the bulls gained momentum, and the price broke out of the range. The rally was short-lived as the Arbitrum token faced rejection at $1.4195 after recording a jump of 29.05%. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/4Clek_rTMQqqIPJ3jigKzN1h2fZgbtbxgEd42s11tVvBNVDMS0-fa49tONQFd2p_11g5fCsmq9Qmp-9ihvq6KqOZWwtjXLFAt9kuVScQ36frSbzh7IlkrhPrItcxO9wGUW72LtVERAVHx6MQ82BCoFE" alt="Arbitrum Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ARB/USDT
 </figcaption>
</figure> 
The price traded sideways for a while, indicating weak buying and selling pressure for the coin. Following this, the ARB token displayed significant price volatility in the chart for about a week. 
The year 2024 started positively, as the price jumped over 35% in value within the first four days. Since then, the price has been trading in a falling channel pattern, highlighting a bearish trend reversal in the crypto space. 
The Relative Strength Index (RSI) displays a sharp fall in the chart, indicating increased selling pressure in the crypto market. Moreover, the averages show a constant decline, highlighting a bear power. 
<h2 class="wp-block-heading" id="h-will-arb-price-rise-back-up">Will ARB Price Rise Back Up?</h2> 
If the bulls push the coin’s price above the resistance level of $1.6743, the ARB price will regain power and test its upper resistance level of $1.8075. 
Further, if the market continues to record bullish sentiments, Arbitrum coin price will continue to rise and test its upper resistance level of $2 in the coming days. 
Conversely, if the bears continue to hold power, the Arbitrum price will fall and test its support level of $1.5467 this week. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its important support level of $1.4195 this month.

Altcoins Experience Massive Correction! ARB Price On A Path To Record New Low Soon?

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