Connect with us
Active Currencies 13836
Market Cap $2,330,431,261,221.37
Bitcoin Share 52.70%
24h Market Cap Change $-8.70

Arbitrum reverses September losses – What’s next?

2min Read

Arbitrum reversed all September losses at press time, but price action hit a hurdle at $1.

Arbitrum

Share this article

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • ARB recovered September losses but hit a key hurdle.
  • Futures market demand improved, giving buyers leverage at press time. 

Over 20% of losses incurred by Arbitrum [ARB] were recovered by press time. ARB dropped from $0.929 to $0.739 in the first half of September but reversed all its losses. 


Is your portfolio green? Check out the ARB Profit Calculator 


In the meantime, Bitcoin [BTC] consolidated recent gains below the mid-range of $27.1k. However, it could retreat lower if bulls fail to reclaim the mid-range level convincingly. 

Can bulls clear the hurdle below $1.0?

Arbitrum

Source: ARB/USDT on TradingView

The recovery that began on 11 September faltered temporarily and deviated off the ascending channel. The extended recovery at the end of September tipped ARB to recover lost ground but hit the daily bearish order block (OB) of $0.933 – $0.999 (red) press time. 

If BTC reclaims $27.1k and targets $28k, ARB could clear the hurdle and the daily bearish OB below $1.0. If so, ARB could target the next roadblock and resistance zone above $1.05. 

But unexpected BTC losses could tip ARB to retreat to the range-low near $0.90 or the daily chart’s price imbalance of $0.845 – $0.882 (white). Such a retracement could offer new buying opportunities. 

Notably, the H4 market structure was bullish alongside elevated buying pressure, as shown by the RSI in the overbought zone. Besides, the positive CMF reiterated substantial capital inflow into ARB’s market in the past few days. 

Buyers had market leverage

Arbitrum

Source: Coinalyze


How much are 1,10,100 ARBs worth today


The Cumulative Volume Delta (CVD) improved and edged higher at the end of September, confirming buyers gained more market leverage. The bullish bias was further confirmed by an improvement in the Open Interest rates over the same period. 

Besides, the long-term price trend flipped to an uptrend, as demonstrated by the positive Accumulative Swing Index (ASI). However, BTC losses and the $1.0 roadblock could affect buyers’ leverage, and it is worth tracking these fronts. 

Share

Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.