bullish

Arbitrum

Reversal

Daily

Coin

Arbitrum price&nbsp;gained traction and headed north amid the broader market recovery. The crypto currently stands at a moderate weekly gain of 10.81%, indicating the recovery in the recent sessions. 
Moreover, despite the recent recovery in the short term, the investors seemed to be confused. This is because the&nbsp;Arbitrum&nbsp;was hovering in a long-term bearish trend per the key 200-day Exponential moving average. 
However, the analysts noted a bullish divergence in an important on-chain metrics: the price DAA divergence indicator. This hinted at a possible recovery in ARB price. Let’s analyze it and find a possible trajectory in Arbitrum in the short term. 
<h2 class="wp-block-heading" id="h-arb-price-daa-divergence-indicator-highlights-a-bullish-scenario-ahead">ARB Price DAA Divergence Indicator Highlights A Bullish Scenario Ahead</h2> 
Arbitrum&nbsp;was trading close to $0.59 at the time of writing, indicating a swift intraday loss of 0.79%. Despite losing intraday, the crypto still boasts a positive weekly jump of 10.81%, indicating a recovery in the recent sessions. <iframe loading="lazy" title="Santiment Chart: Price (ARB), Price DAA Divergence (ARB)" width="800" height="425" src="https://embed.santiment.net/chart?ps=arb-arbitrum&amp;pt=ARB&amp;df=2024-07-31T18%3A30%3A00.000Z&amp;dt=2024-08-21T18%3A30%3A00.000Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bprice_daa_divergence&amp;wax=0&amp;wc=%2326C953%3B%23FF5B5B&amp;ws=%3B" scrolling="no"></iframe> 
Moreover, analysts have noted a significant shift in the price DAA (Daily active address) divergence indicator with the recent price recovery. 
As per the analysts, a positive divergence was observed between the ARB price and Daily active addresses. This indicated a possible recovery in the crypto price. 
Daily active address is a metric to identify the number of users participating in a particular transaction in a given period. A positive divergence between the price and daily active addresses generally indicates a bullish scenario. 
It has a live market capitalization of $2.08 Billion and ranks 41st in the crypto-verse. The volume-to-market cap ratio at 7.99% suggests mid-volatility. 
<h2 class="wp-block-heading" id="h-can-arbitrum-mark-a-bullish-reversal-next-month">Can Arbitrum Mark A Bullish Reversal Next Month</h2> 
From a price action point of view,&nbsp;Arbirtum&nbsp;seemed to be in a short-term consolidation near the demand zone of $0.5 level. However, the long-term trend seemed to be bearish below the 200-day Exponential moving average.  
<a href="https://in.tradingview.com/chart/ARBUSD/Bfb3HWJj-Arbitrum-Price-Analysis-Can-ARB-Be-A-Good-Pick-For-September/"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a> <a href="https://in.tradingview.com/"> </a>  
On the higher side, the $0.64 level may act as an immediate resistance. If surpassed, it could unlock&nbsp;ARB’s price potential to a higher supply of $0.95 and a 200-day EMA. The $05 level may be an immediate support on the lower side. 
If the price breaks below the $0.5 level, it may validate a bearish continuation, and the price may suffer more. 
Additionally, the&nbsp;ARB price&nbsp;needs to surpass the higher supply of $0.95 for a bullish reversal. Until the price is maintained below the $0.95 level, it may face the risk of selloff at the higher levels. 
<a href="https://www.thecoinrepublic.com/price-prediction/arbitrum/">Arbitrum price</a>&nbsp;witnessed a 10.81% gain a week amid a broader market recovery. The short-term trend outlook seemed to be improving. 
However, the long-term trend remained bearish below the 200-day EMA. The analysts noted a positive divergence between ARB price and daily active addresses, suggesting potential recovery. 
As of now,&nbsp;Arbitrum&nbsp;has been consolidating near the $0.5 demand zone. Immediate resistance was at $0.64, potentially reaching $0.95, and the 200-day EMA was surpassed. 
Conversely, Immediate support is at $0.5; a break below this could continue the bearish trend. For a bullish reversal, ARB must surpass $0.95. 
The post <a href="https://www.thecoinrepublic.com/2024/08/27/arbitrum-price-analysis-can-arb-be-a-good-pick-for-september/">Arbitrum Price Analysis: Can ARB Be A Good Pick For September?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Arbitrum Price Analysis: Can ARB Be A Good Pick For September?

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 27, 2024

Bitcoin’s ‘most interesting monthly candle’ emerges, but don’t celebrate yet

Why Agoric’s Recent Developments Make It a Project to Watch in 2024

Bitcoin & Solana Stumble: Snag BlockDAG Now—Prices Climbing Soon, Limited Coins Available!

Can This Viral Multichain Meme Coin 100X On IEO? Base Dawgz Presale Ends in 1 Day

Floki Becomes Official Partner of Nottingham Forest for Premier League 2024/2025 Season

Bitcoin Witnesses Epic 7,023% Imbalance in Bulls' Liquidations

Join our free newsletter for daily crypto updates!