ARB saw a little-to-no movement in the past week due to a serious volatility contraction. While this has caused lack of interest in the market, the price may explode massively when the volatility expands. From a local peak of $1.23 in December, ARB saw a lot of clampdowns and slipped to $0.345. This marked the assets lowest price level ever but has managed to recover well for a couple of days. It tried to resume bearishness this week but the $0.38 level provided support and the price climbed back to where it calmly traded for almost a week. These choppy price actions indicate an extreme volatility contraction on the daily chart. An expansion of the volatility could cause a serious havoc if the price continues to move in favour of the bears. It may revisit the monthly low or even break lower to a new low. As the volatility expands to the upside, ARB may recover some lost grounds and later resume bearishness. A continuous surge in the volatility could lead to a trend shift if the momentum gets stronger. So far, it has lost over 60% of its price from the local peak. A further collapse could cause more pain in the market as it loses momentum. Right now, there’s no sign of the bulls. ARB’s Key Level To Watch Source: Tradingview There’s a pullback level at $0.427. Losing $0.384 could roll the price back to the monthly low with a potential breakdown. The key level to consider for such a break would be $0.345. An increase from the current trading level could signal a recovery to $0.516. If the price increases above this level, the next line of resistance to keep in mind is $0.613 and may be $0.75 in the future. Key Resistance Levels: $0.516, $0.613, $0.75 Key Support Levels: $0.427, $0.384, $0.345 Spot Price: $0.463 Trend: Bearish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
