Crypto
ARB Price Plummets 12%, Setting Stage for Potential Bounce
ARB's price dropped by 12% on September 10, landing at $0.15. This move was particularly concerning due to its magnitude and the context of a dead-flat MACD histogram.
The daily range showed that sellers were in control from the start, with no meaningful bid until the very bottom of the range. The EMA 12 at $0.14 now serves as a de facto floor for ARB's price.
Despite this downward trend, derivatives data shows a surge in open interest by 24% in just 24 hours, indicating fresh shorts or smart money accumulating longs into distributed selling.