- The RSI line shows a bullish divergence concerning the ARRR coin price
- The ARRR/BTC pair was trading at 0.00003792 BTC with a gain of 2.11%
- The 24hr trading volume in the ARRR coin is $722.6K
On September 30th, the ARRR coin price tried to bounce back from the crucial support of $2. However, the new rally couldn’t pass $3 resistance, and by displaying a long higher price rejection candle, the price reversed. Now the token price has come back to this bottom support, maybe for another attempt.
Regarding the EMA’s, the ARRR coin indicates a downtrend as its price is trading below the 20, 50, and 100.
The RSI (BEARISH) value is at 45, indicating the coin is still in a bearish trend. However, the RSI shows a strong bullish divergence in its chart, suggesting the bulls are trying to retake charge.
ARRR Coin Price Hovering Above The $2 Support
For almost a week now, the ARRR coin price has been fluctuating near the $2 support creating a narrow range in its chart. Maybe this short range can provide the first signal if when the price decides to start a new rally.
The MACD indicator indicates a bearish momentum in the coin as both the MACD and signal line are moving below the neutral zone. However, these lines have came quite close to the middle line and it would provide a great confirmation for a new rally if they cross above it.
The super trend indicator project the downtrend in this lower time frame chart.
Conclusion: From the technical perspective, the overall trend for the ARRR coin is still bearish. However, the RSI displaying a bullish divergence at this crucial support, suggests a good possibility of a bullish reversal. But this is a high-risk, high-return situation as traders will trade against the ongoing trend; and thus, they should follow proper risk management.
Support– $2.1, $0.982
Resistance– $2.33 $2.63