Arbitrum Price Crashes To An All Time Low: What's Next?
Arbitrum Price Crashes To An All Time Low: What's Next?
Arbiturm crashed to a new all time low breaking below October 2023 lows of $0.744
At the time of writing , Arbitrum was hovering close to $0.71 recording a sharp 6% fall in Intraday.
Arbitrum price has been facing a challenge in the recent sessions and has crashed below record lows in Intraday today. The recent downturn in the Blue chip cryptocurrencies pushed the ARB price towards a new all time low.
The ARB crypto was suffering a strong selling pressure since mid march and could not overcome it. The price has crashed nearly 63% in the last six months from its annual highs.
Let's analyze whether the Arbitrum crypto would continue to lose its value or may shine again in the near future. Arbitrum is an Ethereum layer two scaling solution. It uses optimistic rollups to achieve speed, scalability and efficiency on Ethereum.
Arbitrum Crypto: Volume & Volatility Analysis
Arbitrum aims to provide compatibility, scalability and flexibility to their users. It allows the developers to deploy their programs written in programming languages like Rust, C++ etc.
Moreover, there has been a notable development in the transaction volume intraday. The transaction volume has surged by 111% in intraday to $364.43 Million a day. A sharp fall in the price along with the volume support indicates the heightened sellers interest in the crypto.
Moreover, the volume to market capitalization ratio at 16.1% indicates an increased volatility in the crypto. After a significant drop, it has a live market capitalization close to $2.32 billion and ranks 35th among all.
Arbitrum Crashed Below An All time Low
The recent sessions saw Arbitrum price trying to stabilize near its All time low. However, the weakness in the broader market after Bitcoin loomed below $60K triggered a breakdown. The price loomed to a record low breaking below the previous ATL.
Currently, the selling pressure seems to be extremely high which may continue to erode more in ARB. On the lower side, the price may head towards a lower $0.7 and $0.65 levels support zone.
However, It seems to be a bit difficult for the ARB to reclaim a bullish territory at the moment due to lack of buyers in the market. For ARB to make a bullish reversal, the price needs to consolidate to stabilize followed by a breakout of key 200 day EMA on the higher side.
Can Arbitrum Recover From Record Lows?
Arbitrum price has crashed to a new all-time low declining 63% from its yearly high in the past six months. The increased selling pressure in the broader market after Bitcoin fell below $60K, has exacerbated ARB's decline. The intraday transaction volume spiked by 111% to $364.43 million, suggesting increased selling activity.
As of now, the sellers may continue to dominate in the short term and ARB may drop to support levels of $0.7 and $0.65. A bullish reversal seems unlikely without buyer interest and a breakout above the 200-day EMA.
Arbiturm crashed to a new all time low breaking below October 2023 lows of $0.744
At the time of writing , Arbitrum was hovering close to $0.71 recording a sharp 6% fall in Intraday.
Arbitrum price has been facing a challenge in the recent sessions and has crashed below record lows in Intraday today. The recent downturn in the Blue chip cryptocurrencies pushed the ARB price towards a new all time low.
The ARB crypto was suffering a strong selling pressure since mid march and could not overcome it. The price has crashed nearly 63% in the last six months from its annual highs.
Let's analyze whether the Arbitrum crypto would continue to lose its value or may shine again in the near future. Arbitrum is an Ethereum layer two scaling solution. It uses optimistic rollups to achieve speed, scalability and efficiency on Ethereum.
Arbitrum Crypto: Volume & Volatility Analysis
Arbitrum aims to provide compatibility, scalability and flexibility to their users. It allows the developers to deploy their programs written in programming languages like Rust, C++ etc.
Moreover, there has been a notable development in the transaction volume intraday. The transaction volume has surged by 111% in intraday to $364.43 Million a day. A sharp fall in the price along with the volume support indicates the heightened sellers interest in the crypto.
Moreover, the volume to market capitalization ratio at 16.1% indicates an increased volatility in the crypto. After a significant drop, it has a live market capitalization close to $2.32 billion and ranks 35th among all.
Arbitrum Crashed Below An All time Low
The recent sessions saw Arbitrum price trying to stabilize near its All time low. However, the weakness in the broader market after Bitcoin loomed below $60K triggered a breakdown. The price loomed to a record low breaking below the previous ATL.
Currently, the selling pressure seems to be extremely high which may continue to erode more in ARB. On the lower side, the price may head towards a lower $0.7 and $0.65 levels support zone.
However, It seems to be a bit difficult for the ARB to reclaim a bullish territory at the moment due to lack of buyers in the market. For ARB to make a bullish reversal, the price needs to consolidate to stabilize followed by a breakout of key 200 day EMA on the higher side.
Can Arbitrum Recover From Record Lows?
Arbitrum price has crashed to a new all-time low declining 63% from its yearly high in the past six months. The increased selling pressure in the broader market after Bitcoin fell below $60K, has exacerbated ARB's decline. The intraday transaction volume spiked by 111% to $364.43 million, suggesting increased selling activity.
As of now, the sellers may continue to dominate in the short term and ARB may drop to support levels of $0.7 and $0.65. A bullish reversal seems unlikely without buyer interest and a breakout above the 200-day EMA.