Quick Analysis of Arbitrum ($ARB )
-Based on the 1-day chart, $ARB is in a clear downtrend and facing strong selling pressure.
Quick Conclusion (Strong Bearish)
-Strong Downtrend: The price of $ARB has been continuously sliding down and is currently trading below all Moving Averages (MA 7, 25, 99). The large gap between the price and the MA lines confirms that a medium/long-term downtrend has been established.
-Negative Price Structure: The chart continuously shows lower highs and lower lows. The most recent candle is a small green candle, indicating a weak recovery attempt, but selling pressure remains.
-Dynamic Resistance: The MA lines are sloping downwards and serve as very strong dynamic resistance. ARB needs to convincingly break above the $MA 7$ (0.3020$) level to temporarily break the downtrend.
➜ Direction: ARB is in a strong downtrend (Strong\ Bearish) and is approaching significant historical support levels. The likelihood of finding support at lower price levels is very high.