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

Coinpedia
Coinpedia

18 Nov 2023 9:23 AM

The ARB price 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...

  • The crypto industry is experiencing a negative trend due to delayed Bitcoin spot ETFs approval.
  • Arbitrum's price has decreased by over 7% in the past day, making it one of the top losers.
  • The token had a significant price increase of over 30% in the past month.
  • After trading in a narrow range, Arbitrum's price broke out and reached multiple resistance levels.
  • The price gained momentum and increased by over 20% in the following week.
  • It then traded in a consolidated range before jumping 15% and being rejected at a resistance level.
  • The price has since displayed volatility and broke down an important support level.
  • The MACD indicates strong selling power and suggests the price will continue to decline.

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You May Ask

What caused the negative trend in the crypto industry?How much has Arbitrum's price decreased in the past day?What resistance level did the price reach before being rejected?What does the MACD indicate about the market sentiment?What will happen if the bears overpower the bulls and the price falls below a certain support level?

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