Arbitrum Price Prediction: ARB/USD Dives Below $0.80 Support
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Arbitrum Price Prediction – September 11
The Arbitrum price failed to cross above the resistance level of $0.84. As a result, ARB begins a fresh decline below the $0.80 support.
ARB/USD Long-term Trend: Bearish (Daily Chart)
Key levels:
Resistance Levels: $1.00, $1.10, $1.20
Support Levels: $0.55, $0.45, $0.35
ARB/USD has dumped to its lowest level in the past few months as more selling pressure has mounted. Today’s trading session has seen the Arbitrum price tumbled below $0.80 for the first time since June. Therefore, the coin hit a low of $0.74 a couple of hours ago.
Arbitrum Price Prediction: ARB Price Could see a Further Drop
The Arbitrum price may continue to follow a bearish fever if the sellers increase the pressure. However, with the Arbitrum price heading toward the south, the coin may likely create another support at $0.70. Meanwhile, the crypto market is experiencing a serious downtrend as the 9-day moving average remains below the 21-day moving average. On the other hand, if the Arbitrum price crosses above the moving average, it could locate the potential resistance at $1.00, $1.10, and $1.20 levels.
Nevertheless, the Arbitrum price was rejected at the important level of $0.84, however, with $0.90 as the new psychological barrier to the bull run, any movement below it is a bear territory, and bulls will need to stay on their toes. However, if a deeper correction follows here, it could be considered extremely unhealthy for ARB/USD as the critical supports are located at $0.55, $0.45, and $0.35. The technical indicator Relative Strength Index (14) is now within the oversold region to confirm the bearish trend.
ARB/USD Medium-term Trend: Bearish (4H Chart)
Looking at the 4-hour chart, ARB/USD is seen on a downward move and the coin may continue to depreciate if the $0.75 support is broken. However, the 9-day moving average remains below the 21-day moving average and the Arbitrum price may continue to fall and could reach the critical support at $0.65 and below.
Meanwhile, if the bulls can hold the current price tight, ARB/USD may likely cross above the moving averages to hit the potential resistance at $0.90 and above. The Relative Strength Index (14) is now moving within the oversold zone, indicating more bearish signals are likely to play out.
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