- The 20-day EMA provides strong dynamic resistance to the ARRR coin price
- The ARRR/BTC pair was trading at 0.00005446 BTC with a loss of 4.16%
- The 24hr trading volume in the ARRR coin is $390,176
On 23rd August, the ARRR coin price was rejected from around the ATH of $4.8 mark and entered into a minor retracement phase. However, the bear attack never stopped, and the price kept falling, breaking new support levels one after another. Thus, the technical chart shows a clear V-Top pattern. The bear attack has made a low till the $2.1 mark, which is fairly close to the ATL of $0.928.
Concerning the EMA’s, the ARRR coin indicates a bearish trend as its price is trading below the 20, 50. Moreover, the 20-EMA is providing strong resistance to this coin.
The RSI (BEARISH) value is at 39, indicating the strong bearish sentiment in the coin. However, the RSI shows a bullish divergence in its chart, suggesting the bulls are trying to retake charge.
ARRR Coin Crypto chart in the 4hr time frame
The ARRR coin chart shows a steady downtrend with lower highs and lower lows. The price has recently been rejected from the $2.63 and is again charging towards the bottom support of the coin. The Crypto traders can consider the $2.1 to $0.928 mark as this coin’s last know support zone in this chart.
The MACD indicator indicates a bearish momentum in the coin as both the MACD and signal line are moving below the neutral zone. In addition, the indicator also showed a bearish crossover of these lines, projecting a sell signal for the ARRR trader.
Conclusion: From the technical perspective, the ARRR coin shows a bearish trend in action, where the price is about to reach the ATL of $0.982. Thus support level is crucial for the ARR traders as it also brings the opportunity to buy the coin at its lowest price. Moreover, the RSI has a bullish divergence, supporting the idea of a reversal. However, this is a high-risk, high-return situation as traders will trade against the ongoing trend; and thus, they should follow proper risk management here.
Support– $2.1, $0.982
Resistance– $2.63