- Derivates volume for the ARB crypto has witnessed a huge decline in the last 24 hours.
- The current trading price of the Arbitrum crypto is $1.12.
Arbitrum, an Ethereum scaling protocol, enhances transaction efficiency via Arbitrum Rollup and AnyTrust. It features chains like Arbitrum One (Rollup) and Arbitrum Nova (AnyTrust) for cost-effective transactions. The ARB governance token empowers holders in the decentralized governance of Arbitrum One and Arbitrum Nova, allowing participation in protocol development decisions.
The volume of the ARB crypto has declined by 15.07% in just the last 24 hours resulting in $410.447M. The volume ranking of the crypto as per Coinmarketcap is 24th and the volume/market cap ratio of the ARB crypto is 28.79%.
The long/short ratio of the ARB crypto in the last 24 hours is 0.8793. This is due to higher long liquidation resulting in $540.70K. Despite this, the derivative volume has declined by 32.92% in the last 24 hours.
The circulating supply of the the crypto is 1.275B ARB which is 12.75% of the total supply. Also, the fully diluted market cap of the ARB crypto is $11.231B. The volume/market cap ratio of the ARB crypto is 0.2734 and the market cap dominance is 0.098%.
ARB Crypto Technical Analysis
In the daily charts, ARB cryptocurrency has broken above the dynamic trendline, currently sustaining trading above it. Notably, the price exhibits a higher high pattern, signaling potential bullish momentum. This breakout suggests a positive trend, indicating increased market optimism and potential for further upward movement in ARB’s price.
On the daily charts, the crypto price has broken out above the 50-day and the 200-day EMA. This shows how powerful and dominant the buyers are in the market.
The RSI for the ARB crypto is also trading at the overbought zones indicating the string bulishness in the market. The 14-day SMA has also hit the overbought zone levels.
Conclusion
ARB cryptocurrency displays a bullish stance in daily charts, breaking dynamic trendlines, 50-day, and 200-day EMAs, signaling robust buyer dominance. Although the RSI and 14-day SMA indicate overbought conditions, a 15.07% volume decline hasn’t deterred optimism. Despite a long/short ratio of 0.8793 and decreased derivative volume, ARB’s potential upward movement is supported by a circulating supply of 1.275B (12.75% of the total), $410.447M volume, and a fully diluted market cap of $11.231B, emphasizing positive market sentiment.
Technical Levels
- Support levels- $0.7600 and $0.9350
- Resistance levels- $1.3390 and $1.7050
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.