Arbitrum’s ARB Faces Reversal Denial Amid Market Turbulence; Shiba Inu (SHIB) Stumbles and Cardano (ADA) Lands on Substantial Support

Estimated read time 2 min read
  • Arbitrum’s ARB undergoes an unexpected reversal, impacted by Grayscale’s Bitcoin holdings liquidation and selling pressure.
  • Shiba Inu (SHIB) sees a significant drop below the $0.000009 mark, raising concerns about a potential downtrend.

The anticipated reversal for Arbitrum’s native token ARB faced an abrupt denial, as the token’s price suffered a sharp decline. Shiba Inu (SHIB) and Cardano (ADA) are also navigating critical levels, with SHIB dipping below $0.000009 and ADA landing on the substantial support of the 100-day Exponential Moving Average (EMA).

Arbitrum’s native token ARB faces an unexpected reversal, influenced by factors including Grayscale’s Bitcoin holdings liquidation and significant selling pressure. The chart analysis reveals a struggle to maintain ground above the crucial support level at $1.50, with uncertainties about a swift recovery. Eyes are on the $1.30 and $1.20 levels as potential support zones.

Shiba Inu’s (SHIB) Downtrend

Shiba Inu (SHIB) experiences a significant drop below the $0.000009 mark, signalling a potential downtrend. Market sentiment is tense as investors monitor SHIB’s performance for signs of recovery or further decline. The key support level at $0.000008 becomes crucial, potentially serving as a reversal point if market conditions favor buying pressure.

Cardano (ADA) touches down on a substantial support level, specifically the 100-day Exponential Moving Average (EMA). ADA’s price contraction phase and convergence with the 100 EMA suggest a potential inflection point. The 100 EMA, around $0.47, becomes pivotal, with ADA’s future trajectory dependent on maintaining this support or facing a further decline toward $0.40.

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