[Coin World] Despite a 140% big pump at the end of 2024, Arbitrum (ARB) has been in a bearish downtrend since March 2024. The market structure shows a bearish trend on both the weekly and daily charts, with the RSI and OBV indicators highlighting significant selling pressure. Even with Bitcoin prices maintaining above $100,000, there has been a recent price fall of 28%. Key price levels to follow include the potential breakdown of the Fibonacci retracement level at $0.298, which could lead to further dips towards $0.18, with the demand zone located between $0.265 and $0.28. The article emphasizes that this is not financial advice, but rather an analysis of the current market conditions.
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[Coin World] Despite a 140% big pump at the end of 2024, Arbitrum (ARB) has been in a bearish downtrend since March 2024. The market structure shows a bearish trend on both the weekly and daily charts, with the RSI and OBV indicators highlighting significant selling pressure. Even with Bitcoin prices maintaining above $100,000, there has been a recent price fall of 28%. Key price levels to follow include the potential breakdown of the Fibonacci retracement level at $0.298, which could lead to further dips towards $0.18, with the demand zone located between $0.265 and $0.28. The article emphasizes that this is not financial advice, but rather an analysis of the current market conditions.