- The ARRR coin bears reclaim the 50-day EMA level
- The ARRR/BTC pair was trading at 0.00006873 BTC with a gain of 0.29%
- The 24hr trading volume in the ARRR coin is $1.3 Million
The ARRR Coin has shown a significant drop after the price was rejected from the $4.6 resistance. The current price of this coin is $3.32, with an intraday loss of 1.15. On 30th August, the price provided a decisive breakout from the $3.5 mark supported by substantial trading volume. Thus, trying to sustain below this level, the ARRR is close to a crucial support level of the $3 mark.
The RSI (BEARISH) value is at 36, indicating the strong bearish sentiment in the coin. Furthermore, the RSI line has shown a substantial drop in its value concerning the coin’s price action, supporting the whole bearish momentum.
ARRR Coin Crypto Chart In The 4hr Time Frame
The ARRR coin chart shows the price is resonating between the $3 and $3.5 SR levels, creating a small range in this coin. This range can help the coin traders grab an entry, a great opportunity once the coin’s price provides a proper breakout from either of the levels.
Moreover, the ARRR traders can also plot the traditional pivot levels in their chart, as they provide significant confluence with the SR levels, providing them with more confirmation and an extra edge in their trading.
Concerning the EMA’s, the ARRR coin indicates a bearish trend in the 4hr time frame as the price is trading below the 20, 50, 100, and 200. Moreover, the chart also shows a death crossover of the 50 and 200 EMA, attracting even more buyers in the coin market.
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 these lines are on the verge of giving a bullish crossover projecting a buy signal for the ARRR trader.
Conclusion: From the technical perspective, the ARRR coin indicates a strong bearish outlook concerning its price action and indicators. However, as mentioned above, the price is about to reach crucial support of the $3 mark, and if the price manages to break down from this level, the ARRR traders will have an excellent opportunity to short this coin.
Support– $3
Resistance– $3.5