Arbitrum Price Suffers as Persistent Downside Pressure Persists

Arbitrum (ARB) has seen persistent selling pressure over the past week, resulting in a $0.0023 (2.49%) price drop and settling at the bottom of its weekly range.

The asset currently trades below both its weekly moving averages (MA-20: $0.1001 and MA-50: $0.2089), reinforcing a bearish medium- and long-term outlook for ARB.

For the next week, analysts predict that ARB will range between $0.0790 and $0.0940, with significant downside risk if support fails at $0.0790.

A recent exploit on AFX Trade, a third-party protocol using Arbitrum technology, has highlighted concerns about security and governance within the network.