$ARB has experienced a significant decline of 12.123% in the last 24 hours, reflecting a bearish sentiment in the overall market.
With a 24-hour high of 0.4094 and a low of 0.3485, the price has firmly tested the lower Bollinger Band at 0.34915, suggesting potential support.
The resistance level at 0.3837 appears vulnerable under current conditions.
Overall, the market trend remains down, influenced by uncertain macroeconomic factors like inflation and regulatory scrutiny.
Bitcoin's correlation seems undefined, indicating ARB may be driven by its own fundamentals or speculation rather than Bitcoin movements.
Traders might consider a short-term pivot due to the high volatility and the current downtrend.
Key takeaway: ARB's price action underscores the necessity of monitoring both individual asset metrics and broader economic influences for effective trading strategies.
