In this Arbitrum technical analysis, we will examine the current price action, trading volume, key levels and indicators for ARB-USDT. Arbitrum (ARB) is a decentralized finance (DeFi) platform that enables users to trade, lend, and borrow digital assets in a trustless and permissionless manner. ARB’s novel smart contract architecture allows for faster and more secure transactions, making it an attractive option for traders and investors alike. Additionally, Arbitrum’s decentralized governance model ensures that the platform is truly community-driven, giving users a say in its development and growth.
Arbitrum Price Overview:
As of May 10, 2024, Arbitrum is trading at approximately 1.0083 USDT. Let’s dive into the detailed price action for ARB-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.0412 |
| High (H) | 1.0541 |
| Low (L) | 1.003 |
| Close (C) | 1.0083 |
| Volume (C) | 41,793,044.80 |
- Open (O): The opening price for today’s trading session was approximately 1.0412 USDT.
- High (H): Arbitrum reached a daily high of around 1.0541 USDT.
- Low (L): The daily low for ARB-USDT was approximately 1.003 USDT.
- Close (C): At the time of analysis, Arbitrum is trading near its daily close of 1.0083 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.15% |
| 3D Change (%) | -1.68% |
| 7D Change (%) | -5.32% |
| 30D Change (%) | -31.23% |
| 90D Change (%) | -48.57% |
| YTD Change (%) | -35.42% |
Over the past three days, ARBUSDT has decreased by approximately -1.68%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -5.32%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ARBUSDT maintaining a downward trend of approximately -31.23%, despite intermittent fluctuations. Examining the last 90 days, ARBUSDT has witnessed substantial decrease of approximately -48.57%, reflecting strong long-term confidence. Year-to-date, ARBUSDT has steadily declined by around -35.42%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Arbitrum Live Chart:
You can access a live price chart for ARB-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.53004.
- Momentum score is -0.09941.
ARB USDT Technical Analysis
Arbitrum Trading Volume:
The trading volume for Arbitrum (ARB) over the past 24 hours has been insignificant, with approximately 41,793,044.80 USDT traded against ARB. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): ARB is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Arbitrum is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ARB-USDT is currently in the low zone, around 37.23127. This suggests that Arbitrum is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Arbitrum (ARB-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Explore Arbitrum’s (ARBUSDT) potential challenges at 1.01 USDT as technical analysis leans bearish, emphasizing weakened support and cautionary indicators.
Take the next step in your exploration by delving into our detailed insights on ARB BTC Arbitrum Technical Analysis; it’s a natural follow-up if you enjoyed this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.