The price of ARB is currently trading near $0.51 after a daily movement between $0.51 and $0.56, recording a slight decline. The overall trend remains volatile between short-term selling pressures and positive signals on the medium term.
Technically, the area between $0.48 and $0.50 represents important support, while the nearby resistance is at $0.58, followed by $0.60 as a pivotal level that could open the way towards higher levels. The indicators are mixed, as the Relative Strength Index (RSI) shows around 43 on some frames, indicating a short-term downward tendency, while the moving averages on larger frames support the upward trend with the price trading above the 20, 50, and 200-day averages.
If the resistance of $0.58 is broken with a large trading volume, we are likely to see a move towards $0.75 and then $0.83 over the coming weeks. However, if it fails and remains below $0.50, the price may retreat towards $0.36, which is the crucial support representing the most important defense line against a wider drop.
Recommendation 🔥⚡
Gradual buying between $0.48 and $0.50
Taking profits
First target $0.58
Second target $0.75
Third target $0.83
Stop loss below $0.48
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