![Between Arbitrum’s [ARB] surging demand and whirlwind drop-off](https://i.headtopics.com/images/2023/4/1/cryptoamb/between-arbitrum-s-arb-surging-demand-and-whirlwin-between-arbitrum-s-arb-surging-demand-and-whirlwin-1642022729615384577.webp)
Korean exchange Upbit could be the second-largest ARB holder per accumulation speculation ARB’s value has decreased by 6% in the last seven days A part of Arbitrum’s [ARB] 2023 roadmap was the objective for its token to become available to the public. In grand style, it was done on 16 March as users of the […]
Technical chart-wise, ARB was exhibiting a high amount of volatility based on the Bollinger Bands . Hence, price swings in either direction could play out in the short term. Meanwhile, the Awesome Oscillator showed that the risk of falling to a bearish momentum was higher than the possibility of a bullish breakout. As of this writing, the AO was -0.0075.
In addition, nothing exactly positive came out of the Directional Movement Index trend. Indeed, the +DMI and -DMI at 19.76 and 21.84 individually had no strong support from the Average Directional Index .With the ADX less than 25, it means that many traders were avoiding jumping on the ARB price trend. However, price patterns could be easy to recognize here, denoting a sign of possible accumulation and distribution.
Finally, it may be a call too quick to write off ARB as underperforming since it’s less than one month old. Take, for instance,Later, it went haywire with a tremendous uptick. Hence, there is a chance that ARB could recover, especially since it capitulated from an $11 launch price.Subscribe to get it daily in your inbox.
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