The post What’s Next for Arbitrum Price? Will the Price of ARB Revert Before the End of April 2023? appeared first on Coinpedia Fintech News
Since the Arbitrum platform launched its native token, ARB, the token has been trading under a bearish influence despite recent upside swings. The token soon lost the maximum of its gains as the buying volume spiked notably. However, the bulls do not appear to remain stagnant for a longer time, as a fine rebound may knock off before the end of the monthly trade.
The ARB price is currently testing one of the essential levels, and a rise beyond these levels may certify a ridge above the bearish captivity. The volume has surged to some extent, which may continue to push the prices up, irrespective of the bearish actions. However, the strength of the rally is waning, which may impact the pace of the upswing.
The ARB price dropped hard soon after the launch and maintained a steep downswing. The price rebounded well, surged by 50%, and marked monthly highs beyond $1.8. However, before reaching the crucial levels at $2, the bears began to drag the price lower, reaching lows around $1.2. Presently, the price has risen and is testing the 50-day MA levels. Therefore, a breach above these levels is extremely important for the price to maintain a healthy upswing.
Besides, the RSI is maintaining an incremental action and is getting closer to reaching overbought levels. Hence, the price is believed to rise above $1.5 in the next few days and head towards the next resistance at $1.8. If the token manages to achieve these levels the rally may begin with a healthy upswing, else may remain consolidated under acute bearish influence.