Arbitrum Price Analysis: Can ARB Be A Good Pick For September?
Arbitrum Price Analysis: Can ARB Be A Good Pick For September?
Meta Description: Arbitrum price gained traction and headed towards north amid the broader market recovery
Arbitrum price seemed to be recovering in the recent sessions amid the broader market recovery.
The price DAA divergence indicator highlights a positive divergence indicating the possibility of a bullish reversal.
Arbitrum price gained traction and headed towards north amid the broader market recovery. The crypto currently stands at a moderate weekly gain of 10.81% indicating the recovery in the recent sessions.
Moreover, Despite the recent recovery in the short term, the investors seemed to be confused as Arbitrum still hovers in a long term bearish trend as per the key 200 day Exponential moving average.
However, the analysts have noted a bullish divergence in an important on-chain metrics: price DAA divergence indicator which hints at a possible recovery in ARB price. Let's analyze it and try to find a possible trajectory in Arbitrum in the short term.
ARB Price DAA Divergence Indicator Highlights A Bullish Scenario Ahead
At the time of writing, Arbitrum was trading close to $0.59 indicating a swift intraday loss of 0.79%. Despite losing intraday, the crypto still boasts a positive weekly jump of 10.81% indicating a recovery in the recent sessions.
Moreover, in tandem with the price recovery in the recent sessions, the analysts have noted a significant shift in the price DAA (Daily active address) divergence indicator. As per the analysts, a positive divergence was observed between the ARB price and Daily active addresses indicating a possible recovery in the crypto price.
Daily active address is a metric used to identify the number of users taking part in a particular transaction in a given period of time. A positive divergence between the price and daily active addresses generally indicates a bullish scenario.
It has a live market capitalization of $2.08 Billion and ranks 41st in the cryptoverse. The volume to market cap ratio at 7.99% suggests mid volatility.
Can Arbitrum Mark A Bullish Reversal Next Month
From a price action point of view, Arbirtum seemed to be in a short term consolidation near the demand zone of $0.5 level. However the long term trend seemed to be bearish below the 200 day Exponential moving average.
On the higher side, the $0.64 level may act as an immediate resistance which if surpassed unlock ARB price potential to the higher supply of $0.95 and 200 day EMA. On the lower side, the $05 level may act as an immediate support.
Now, if the price breaks below the $0.5 level, it may validate a bearish continuation and the price may suffer more. Additionally for a bullish reversal, ARB price needs to surpass the higher supply of $0.95 level. Until the price is maintained below $0.95 level, it may face the risk of selloff at the higher levels.
Arbitrum price witnessed 10.81% gain a week amid a broader market recovery. The short term trend outlook seemed to be improving however, the long-term trend still remained bearish below the 200-day EMA. The analysts noted a positive divergence between ARB price and daily active addresses, suggesting potential recovery.
As of now, Arbitrum was consolidating near the $0.5 demand zone. Immediate resistance is at $0.64, with potential to reach $0.95 and the 200-day EMA if surpassed. Immediate support is at $0.5; a break below this could continue the bearish trend. For a bullish reversal, ARB must surpass $0.95.
Meta Description: Arbitrum price gained traction and headed towards north amid the broader market recovery
Arbitrum price seemed to be recovering in the recent sessions amid the broader market recovery.
The price DAA divergence indicator highlights a positive divergence indicating the possibility of a bullish reversal.
Arbitrum price gained traction and headed towards north amid the broader market recovery. The crypto currently stands at a moderate weekly gain of 10.81% indicating the recovery in the recent sessions.
Moreover, Despite the recent recovery in the short term, the investors seemed to be confused as Arbitrum still hovers in a long term bearish trend as per the key 200 day Exponential moving average.
However, the analysts have noted a bullish divergence in an important on-chain metrics: price DAA divergence indicator which hints at a possible recovery in ARB price. Let's analyze it and try to find a possible trajectory in Arbitrum in the short term.
ARB Price DAA Divergence Indicator Highlights A Bullish Scenario Ahead
At the time of writing, Arbitrum was trading close to $0.59 indicating a swift intraday loss of 0.79%. Despite losing intraday, the crypto still boasts a positive weekly jump of 10.81% indicating a recovery in the recent sessions.
Moreover, in tandem with the price recovery in the recent sessions, the analysts have noted a significant shift in the price DAA (Daily active address) divergence indicator. As per the analysts, a positive divergence was observed between the ARB price and Daily active addresses indicating a possible recovery in the crypto price.
Daily active address is a metric used to identify the number of users taking part in a particular transaction in a given period of time. A positive divergence between the price and daily active addresses generally indicates a bullish scenario.
It has a live market capitalization of $2.08 Billion and ranks 41st in the cryptoverse. The volume to market cap ratio at 7.99% suggests mid volatility.
Can Arbitrum Mark A Bullish Reversal Next Month
From a price action point of view, Arbirtum seemed to be in a short term consolidation near the demand zone of $0.5 level. However the long term trend seemed to be bearish below the 200 day Exponential moving average.
On the higher side, the $0.64 level may act as an immediate resistance which if surpassed unlock ARB price potential to the higher supply of $0.95 and 200 day EMA. On the lower side, the $05 level may act as an immediate support.
Now, if the price breaks below the $0.5 level, it may validate a bearish continuation and the price may suffer more. Additionally for a bullish reversal, ARB price needs to surpass the higher supply of $0.95 level. Until the price is maintained below $0.95 level, it may face the risk of selloff at the higher levels.
Arbitrum price witnessed 10.81% gain a week amid a broader market recovery. The short term trend outlook seemed to be improving however, the long-term trend still remained bearish below the 200-day EMA. The analysts noted a positive divergence between ARB price and daily active addresses, suggesting potential recovery.
As of now, Arbitrum was consolidating near the $0.5 demand zone. Immediate resistance is at $0.64, with potential to reach $0.95 and the 200-day EMA if surpassed. Immediate support is at $0.5; a break below this could continue the bearish trend. For a bullish reversal, ARB must surpass $0.95.
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