{"id":234013,"date":"2024-01-23T00:36:02","date_gmt":"2024-01-22T19:06:02","guid":{"rendered":"https:\/\/dripp.zone\/news\/arbitrum-price-tumbles-30-from-ath-slashing-arb-holder-profits-whats-next-crypto-news\/"},"modified":"2024-01-23T00:36:08","modified_gmt":"2024-01-22T19:06:08","slug":"arbitrum-price-tumbles-30-from-ath-slashing-arb-holder-profits-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/arbitrum-price-tumbles-30-from-ath-slashing-arb-holder-profits-whats-next-crypto-news\/","title":{"rendered":"Arbitrum Price Tumbles 30% From ATH Slashing ARB Holder Profits, What\u2019s Next? – Crypto News"},"content":{"rendered":"

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\nArbitrum price bleeds within a descending channel from the $2.4 ATH at $1.7. Despite this support, investors sit on the sidelines afraid to buy the dips.\t\t\t\t<\/p>\n

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Published 10 mins ago <\/p>\n

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Arbitrum price is in shambles just like the majority of the cryptocurrencies led by Bitcoin\u2019s plunge to $40,000. With investors jittery over the future of the crypto market in the coming weeks, the path of least resistance is majorly downwards.<\/p>\n

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The hype preceding the launch of\u00a0Bitcoin ETFs<\/span><\/a>\u00a0in the US increased investor risk appetite with many finding ecosystem tokens like\u00a0Arbitrum<\/span><\/a>\u00a0attractive.<\/p>\n

This support coupled with a positively structured market, backed ARB to explode from support at $0.75 reaching a new all-time high of $2.4 in January.<\/p>\n

Therefore, the sell-off following the ETF approval caught many holders unawares, which could explain the sudden spike in selling pressure.<\/p>\n

With no sign of an immediate rebound, ARB holders are rushing to offload to protect profits earned in the last few months as well as their capital.<\/p>\n

Arbitrum price prediction: Is it time to buy the dip?<\/h2>\n

A descending channel characterizes the correction from the ATH. Trading at $1.7 during US business hours on Monday,\u00a0Arbitrum price<\/span><\/a>\u00a0struggles to hold above the channel\u2019s lower boundary.<\/p>\n

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Losing a slightly higher support at $1.75 highlighted by the 200 Exponential Moving Average (EMA) (purple), compelled traders to short ARB while possibly aiming to buy the token again at a lower price point.<\/p>\n

Two more moving averages including the 20 EMA (blue) and the 50 EMA (red) reinforce the bearish outlook in ARB. On top of that, a sell signal confirmed by the Moving Average Convergence (MACD) implies that sellers have an upper hand.<\/p>\n

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