Arbitrum

Avalanche

Coin

<p>Arbitrum (ARB), the cryptocurrency powering the Arbitrum network, a prominent layer-2 scaling solution for Ethereum, has experienced a substantial price drop of 11% in the past 12 hours. This decline coincides with a market downturn and a significant token unlock event.</p> 
<p>According to data shared by<a href="https://twitter.com/spotonchain/status/1769178915648471328?t=0w7mq6MeGXyue5tjxUi2Tw&amp;s=19" target="_blank" rel="nofollow"> Spot On Chain</a>, a popular on-chain analytics platform, six wallets that recently received ARB tokens from vesting contracts have deposited a staggering 8.95 million ARB tokens, valued at approximately $16.4 million, to the cryptocurrency exchange Binance. Notably, these wallets still hold a collective 32.95 million ARB tokens, worth around $56.7 million, raising concerns that they may continue offloading their holdings, potentially exerting further downward pressure on the token’s price.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="627" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-1024x627.png" alt="" class="wp-image-454221" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-1024x627.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-300x184.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-768x470.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-1536x940.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-2048x1254.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-245x150.png 245w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-572x350.png 572w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746-788x482.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-746.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>  
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div> 
<p>Technical Analysis: Further examination of the technical indicators reveals that the ARB price has broken below the crucial support level of $1.67. A daily close below this level could potentially trigger a continuation of the downtrend, with the next support levels projected at $1.46 and $1.25. If these levels are breached, the percentage decline from the current price could reach substantial levels.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="464" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-1024x464.png" alt="" class="wp-image-454229" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-1024x464.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-300x136.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-768x348.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-1536x696.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-2048x929.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-331x150.png 331w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-772x350.png 772w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747-788x357.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-747.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>The Relative Strength Index (RSI), a momentum indicator used to evaluate the strength or weakness of an asset’s price movement, is currently hovering around 33, approaching oversold territory. An oversold condition often signals that the selling pressure may be reaching exhaustion and could potentially lead to a price rebound.</p> 
<p>However, it is important to note that the current bearish sentiment, exacerbated by the recent token unlock event and the broader market downturn, could continue to weigh on the ARB price in the short term.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/grayscale-prepares-for-a-bitcoin-sell-off-but-should-this-worry-us/" target="_blank">Grayscale Prepares for a Bitcoin Sell-Off, But Should This Worry Us?</a></li> 
 <li><a href="https://captainaltcoin.com/ripples-xrp-could-soon-soar-to-1-according-to-this-analysts-charts/" target="_blank">Ripple’s XRP Could Soon Soar to $1 According to This Analyst’s Charts</a></li> 
 <li><a href="https://captainaltcoin.com/worldwide-crypto-magnetism-intensifies-as-avalanche-avax-tether-usdt-adopt-raffle-coin-raff-presale-for-anticipated-100x-upswing/" target="_blank">Worldwide Crypto Magnetism Intensifies as Avalanche (AVAX) &amp; Tether (USDT) Adopt Raffle Coin (RAFF) Presale for Anticipated 100X Upswing</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-nofollow-sponsored-span-check-nuggetrush-nugx-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <span>Check NuggetRush ($NUGX)</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> Buy NUGX Today </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/arbitrum-arb-price-plummets-11-following-major-unlock-technicals-signal-more-trouble-ahead-for-holders/">Arbitrum (ARB) Price Plummets 11% Following Major Unlock; Technicals Signal More Trouble Ahead for Holders</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Arbitrum (ARB) Price Plummets 11% Following Major Unlock; Technicals Signal More Trouble Ahead for Holders

Table of Contents

CaptainAltcoin

Other articles published on Mar 17, 2024

Analysis Company Reveals Identity of Wallet That Continuously Purchases Bitcoin at 100 by 100

After Binance Former CEO CZ’s “4” Posts, “3” Posts are Coming from the New CEO: What Does It Mean?

Binance To Tighten Token Listing Requirements, Jeopardizing Profitability

Gender-Based Harms in AI: Protecting Against Non-Consensual Image Alterations

Bitcoin Realized Price Climbs 5-10% Monthly, Echoing Past Patterns

BTC eyes bounce to $70k after declines: What’s the outlook for Bitbot?

Join our free newsletter for daily crypto updates!