Arbitrum

Resistance

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/arbitrum-faces-potential-sell-off" data-wpel-link="internal" rel="noopener noreferrer nofollow">Arbitrum Faces Potential Sell-Off</a><br></p>
<p style="text-align: justify">Arbitrum’s (ARB) price currently hovers above the crucial resistance level of $1.17. However, this price surge may be short-lived due to the possibility of ARB holders realizing profits and increasing selling pressures.</p>
<h2 id="will-there-be-a-sell-off-in-arb">Will There Be a Sell-Off in ARB?</h2>
<p style="text-align: justify">The altcoin Arbitrum is signaling bearish trends, which could lead to a price decline. The Market Value to Realized Value (MVRV) ratio indicates that a sell-off is likely. The 30-day MVRV ratio stands at 20%, suggesting that <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> are in profit and may be inclined to sell.</p>
<p style="text-align: justify">Historical <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> that ARB price corrections typically occur when the MVRV ratio is between 7% and 24%, placing it in a danger zone. This sentiment is bolstered by a recent 20% surge in ARB’s price, marking its first significant gain in nearly a month.</p>
<h2 id="resistance-level-broken">Resistance Level Broken</h2>
<p style="text-align: justify">Though realized losses have turned into gains, further profit-taking could drive the price down. ARB recently broke the month-long resistance level of $1.17 and is now trading at $1.18. Despite this, bearish signals suggest that a decline is imminent.</p>
<p style="text-align: justify">The Ichimoku Cloud, a comprehensive technical indicator, still shows a bearish trend. This indicator provides insights into support, resistance, trend direction, and momentum. As long as the Cloud indicates a downtrend, a positive outcome for ARB seems unlikely. Thus, the price of Arbitrum could drop to $1.1 or even as low as $0.92.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">Investors should consider the following:</p>
<ul>
 <li>ARB’s price has broken the $1.17 resistance level but faces potential decline.</li>
 <li>The 30-day MVRV ratio at 20% suggests that further selling could occur.</li>
 <li>Historical data indicates a danger zone within the 7%-24% MVRV range.</li>
 <li>Indicators like the Ichimoku Cloud predict bearish trends.</li>
 <li>Potential price targets are $1.1 and $0.92.</li>
</ul>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/arbitrum-faces-potential-sell-off" data-wpel-link="internal" rel="noopener noreferrer nofollow">Arbitrum Faces Potential Sell-Off</a></h5>

Arbitrum Faces Potential Sell-Off

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