Arbitrum (ARB) Price Breakout: Analysis and Prediction
Thursday, 23 May 2024, 16:30
Arbitrum Investors Appear Keen to Sell
Arbitrum’s price is trading above the critical resistance level of $1.17, but investor sentiment suggests selling pressure may increase due to profit-taking.
Arbitrum MVRV Ratio
Arbitrum's 30-day MVRV ratio stands at 20%, indicating potential profits that could prompt investors to sell, historically leading to price corrections.
ARB Price Prediction: Bearish Indicators Dominate
The Ichimoku Cloud indicator and bearish cues hint at a possible decline in ARB price towards $1.1 or lower, despite the recent breakout above $1.17.
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