- Arbitrum is a DAO type crypto which means it works on web3.
- The current trading price of the crypto is $0.9116 trading with a decline of -0.19%.
The ARB crypto’s derivative trading volume has fallen by -22.72% in the past 24 hours, reaching $144.71M. The long/short ratio is 0.9948, which means that the short liquidation could be higher which is $84.28K. This is a positive sign for the crypto.
The coin debuted on May 28, 2021 and reached its peak on March 23, 2023. It has the highest volume in USDT currency with a rate of 85.09%. The most traded exchange for ARB is Binance, followed by Huobi Pro with 24.40% of the crypto’s volume.
The market cap of Arbitrum has increased by +0.75% in the past 24 hours, reaching $1.16B. However, the volume has dropped by -10.31% in the same period, resulting in a volume/market cap ratio of 7.64%. According to Coinmarketcap, the crypto’s current market cap rank is #38.
The total supply of ARB crypto is 10B ARB following a circulating supply of 1.27B ARB. Presently the fully diluted market cap of the crypto is $9.17B.
Arbitrum Price Technical Analysis
The Arbitrum has been in a downward spiral for a long time as it has been dropping from its previous highs. The market is under the control of the bears and there is no sign of a change or a switch in the market’s mood to support the bulls. Moreover, the market has formed a small symmetrical triangle at the lower level, which can trigger a strong movement in either direction for a short period of time if it breaks out or breaks down.
The price has been on a steady decline for a long time, causing a continuous fall in the market. This has led to a crossover between the 50-day and the 200-day EMA, which indicates a negative trend for the price in the long run.
The RSI of the crypto shows that the market’s momentum is low as it has been declining and unable to break above 50. However, it has recently crossed over the 50-level, but the market will remain bearish until it reaches the overbought zone.
Arbitrum Volume Analysis
The crypto hasn’t seen any significant action in its volume for a very long time as the traders community did not show any interest in the crypto.
Conclusion
The price structure of the crypto is negative and has been consistently declining from the higher level and there are no signs of buying in the crypto yet and the volume of the coin has also declined. The RSI and the EMA’s are also weak on charts.
Therefore, unless there is a significant volume spike in the crypto and it changes its character to bullish the price is expected to decline further and stay volatile.
Technical Levels:
- The support levels for Arbitrum Crypto are $0.8600 and $0.700
- The resistance levels for the Arbitrum Crypto are $1.030 and $1.1800
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.