{"id":169330,"date":"2023-10-06T12:45:37","date_gmt":"2023-10-06T07:15:37","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=169330"},"modified":"2023-10-06T12:45:37","modified_gmt":"2023-10-06T07:15:37","slug":"arbitrum-can-arbs-latest-pullback-present-buying-opportunities-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/arbitrum-can-arbs-latest-pullback-present-buying-opportunities-crypto-news\/","title":{"rendered":"Arbitrum: Can ARB&#8217;s latest pullback present buying opportunities? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">ARB\u2019s drop eased temporarily at a key confluence area of $0.87.<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">Liquidity areas exist at $0.858 and $0.894.<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/arb\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Arbitrum [ARB]<\/span><\/a><span style=\"font-weight: 400\"> reversed recent gains after <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> dropped below $28k. The altcoin\u2019s pullback hit a key confluence area and could offer ARB\u2019s bull reprieve if BTC doesn\u2019t post more losses.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/arbitrum-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">ARB Profit Calculator<\/span><\/a><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">ARB saw extra <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/arbitrum-can-investors-sustain-arbs-ongoing-bullish-uptrend\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">gains<\/span><\/a><span style=\"font-weight: 400\"> as BTC hit $28k, but the king coin\u2019s losses afterward exposed the altcoin to sellers. ARB dropped over 10% to a confluence area of $0.85.\u00a0<\/span><\/p>\n<h4>Will the confluence zone stop the plunge?<\/h4>\n<div id=\"attachment_348771\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARBUSDT_2023-10-05_14-36-53.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-348771\" class=\"size-full wp-image-348771\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARBUSDT_2023-10-05_14-36-53.png\" alt=\"ARB\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-348771\" class=\"wp-caption-text\">Source: ARB\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The recent price rejection happened at the overhead hurdle and the daily bullish order block (OB) of $0.9329 \u2013 $0.9985 (red).<\/span><\/p>\n<p><span style=\"font-weight: 400\">Nevertheless, the pullback hit a key confluence area at press time. The area is the previous breakout level of $0.87 during the extended rally in late September. In addition, the area includes a dynamic 50- Exponential Moving Average (EMA), yellow, and a price imbalance of $0.84 \u2013 $0.88 (white).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">So, if BTC doesn\u2019t drop further, ARB could rebound from the level. The next bullish targets exist at $0.916, and the roadblock of $0.9329 \u2013 $0.9985 (red). A move to the second target could present a potential 8% gain for buyers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A drop below the confluence area will invalidate the bullish bias.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, capital inflows into the ARB\u2019s market were positive despite a slight drop in the past few days. But buyers\u2019 influence could be confirmed if the Relative Strength Index (RSI) rebounds strongly at the 50 mark.\u00a0<\/span><\/p>\n<h4>Long positions were at risk<\/h4>\n<div id=\"attachment_348773\" style=\"width: 1880px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARB-liquidations.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-348773\" class=\"size-full wp-image-348773\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"ARB\" width=\"1870\" height=\"562\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARB-liquidations.png 1870w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARB-liquidations-300x90.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARB-liquidations-1024x308.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARB-liquidations-768x231.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARB-liquidations-1536x462.png 1536w\" data-lazy-sizes=\"(max-width: 1870px) 100vw, 1870px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARB-liquidations.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-348773\" class=\"size-full wp-image-348773\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ARB-liquidations.png\" alt=\"ARB\" width=\"1870\" height=\"562\" \/><\/a><\/p>\n<p id=\"caption-attachment-348773\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The above bullish bias is a risky move, given long positions were extremely discouraged at press time. According to <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/ARB\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">Coinglass<\/span><\/a><span style=\"font-weight: 400\">, ARB recorded over $50k liquidations of long positions compared to &lt;$20k short positions in the past 12 hours before press time.\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-arb-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 ARBs worth today<\/span><\/a><span style=\"font-weight: 400\">?<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">However, a bullish BTC could flip market sentiment in favor of the bulls. Hence, tracking BTC movement is crucial for risk mitigation and trade set-up optimization.\u00a0<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion ARB\u2019s drop eased temporarily at a key confluence area of $0.87. Liquidity areas exist at $0.858 and $0.894. Arbitrum [ARB] reversed recent gains after Bitcoin [BTC] dropped below $28k. The altcoin\u2019s pullback hit a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":169331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-169330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=169330"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169330\/revisions"}],"predecessor-version":[{"id":169333,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169330\/revisions\/169333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/169331"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=169330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=169330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=169330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}