Analysing the ARB/USDT trading pair on the basis of given indicators. And price prediction for the next 4 hours and after a Day.
Chart Analysis:
1. Price Movement and Candlestick Pattern:
- The recent candlesticks indicate a sharp drop in price to $0.9000 followed by a slight recovery to $0.9883.
- This drop forms a long bearish candlestick, suggesting a strong selling pressure.
2. Exponential Moving Averages (EMAs):
- EMA(7) is below EMA(25) and EMA(99), indicating a short-term bearish trend.
- The gap between the EMAs is widening, reinforcing the bearish sentiment.
3. Volume:
- There is a significant spike in volume during the price drop, indicating high selling activity.
4. Relative Strength Index (RSI):
- The RSI is at 22.1780, which is in the oversold territory (below 30). This suggests that the price might be due for a short-term bounce or consolidation as the market corrects from the oversold condition.
5. Stochastic RSI:
- Both the Stochastic RSI and its moving average are around 20, also indicating an oversold condition.
Price Prediction:
Next 4 Hours:
- Given the oversold conditions indicated by both the RSI and Stochastic RSI, the price may stabilize or see a short-term bounce.
- However, due to the overall bearish trend indicated by the EMAs, any bounce may be limited, and the price might face resistance around the EMA(7) (currently around 1.0253).
- The price could range between $0.95 to $1.02, with a possibility of testing the recent low of $0.9000 if the selling pressure continues.
Next 1 Day:
- If the price manages to stabilize and move above the EMA(7), it could attempt to recover towards the EMA(25) (around 1.0755). However, this would require sustained buying pressure.
- If the bearish sentiment persists, the price might consolidate between $0.90 and $1.00, with potential further declines if the selling pressure intensifies.
- Overall, the medium-term outlook remains bearish unless there is a strong reversal signal.
