- The RSI shows a substantial drop in value concerning the price action
- The ARRR/BTC pair was trading at 0.00007626 BTC with a loss of 2.65%
- The 24hr trading volume in the ARRR coin is $938.5K
The ARRR coin price experienced a remarkable rally, offering excellent traders for the trend traders of the Crypto market. However, after facing strong rejection from the $4.8 resistance, the price entered a retracement phase, which has recently dropped below the crucial support of $3.8. Thus, as the price drops, the sentiment of a minor pullback is slowly turning to a reversal.
The RSI (BEARISH) value is at 44, indicating the bearish sentiment in the coin. Furthermore, the RSI line shows a substantial drop in its value with respect to the coin’s price action, which indicates weakness in the bullish momentum.
ARRR Coin Crypto Chart In The 4hr Time Frame
The ARRR coin has managed to close its candle below $3.85 support in the 4hr time frame chart. However, the chart also shows some long lower price rejection candles below this support level, indicating the intense buying pressure faced by the coin’s price.
Concerning the EMA’s, the coin indicates a bearish trend in the 4hr time frame as the price is trading below the 20, 50, 100, and 200. Moreover, the ARRR coin bears have reclaimed the 200 EMA and show good sustainability below this line.
The MACD indicator indicates a bearish momentum in the coin as both the MACD and signal line are moving below the neutral zone. Moreover, the indicator also shows a bearish crossover of the MACD and the signal line, projecting a sell signal for the ARRR trader.
Conclusion: From the technical perspective, the trend for the ARRR coin remains bullish. However, The coin is currently facing a confusing situation due to the bearish outlook on price action and indicators. Thus, ARRR traders can wait for the price to give a proper retest of the breakdown of $3.8 before taking a short entry in this coin.
Support– $3.5
Resistance– $3.8, $4.2