🔔 ARB/USDT SIGNAL 🎯
Based on the available data and charts, here is an updated analysis of ARB (Arbitrum) and a refined trading strategy with entry, exit points, and stop-loss level’s.
▫️Technical Analysis📈:
1. Overall Trend:
• The current trend is bearish since the price peaked near 2.29 USDT. Currently, the price is around 0.79 USDT.
2. Support and Resistance:
• Strong Support: The current strong support level is around 0.73 USDT.
• Strong Resistance: There is resistance at 1.25 USDT, 1.60 USDT, and finally at 2.28 USDT.
3. RSI and Stochastic RSI Indicators:
• The Stochastic RSI indicates an oversold condition, suggesting a potential reversal.
• The RSI is also in the oversold zone, reinforcing the likelihood of a rebound.
4. Other Data (CVD, Open Interest, Funding Rates):
• There is a negative flow in the Cumulative Volume Delta (CVD), indicating continued selling pressure.
• Open interest is stable, indicating sustained interest from traders.
• Funding rates are slightly positive, suggesting short-term positive sentiment.
▫️Trading Strategy🎯:
• Entry Point: 0.75 USDT, which is close to the support level.
• Take Profit:
• First target: 1.00 USDT
• Second target: 1.25 USDT
• Stop Loss: 0.70 USDT, below the support level.
▫️Liquidity and Trend Analysis🔨:
• Data from CoinGlass:
• Heatmaps show increased liquidity at higher price levels, suggesting a potential rebound.
• Other data supports the possibility of a rebound with the presence of support and stability in open interest.
▫️Summary:
• Entry Point: 0.75 USDT
• Take Profit: 1.00 USDT (approx. 33% profit), 1.25 USDT (approx. 67% profit)
• Stop Loss: 0.70 USDT
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