Arbitrum’s Bullish Trend Comes to an End
In the previous bull run, Arbitrum experienced a surge in prices, reaching as high as $0.99 from $0.75 in early September. However, it faced resistance at $1.00 and has since retraced.
There is a possibility of further contraction, with ARB falling to immediate support at $0.910. Nevertheless, recent developments such as Chainlink launching its low-latency decentralized oracle on Arbitrum One and increased accumulation of ARB by users indicate a potential short-term trend reversal. This could drive the coin to $1 and even to a new multi-month high of $1.25.
Bitcoin Cash Retreats from Two-Month High
After reaching a two-month high of $255 in early October, Bitcoin Cash has cooled off and now sits below support at $245, currently trading at $234.
The relative strength index (RSI) suggests oversold momentum with a reading of 70.00. Despite this, positive sentiment surrounds Bitcoin Cash due to expectations of several ETFs and spot ETFs in the crypto market this month. Experts predict that Bitcoin Cash will rebound above $250 in Q4 2023.
Tradecurve Markets Disrupting the Crypto Exchange Scene
Tradecurve Markets aims to reshape the crypto exchange landscape with its innovative approach.
Hot Take: Innovations and Setbacks in the Crypto Market
As the crypto market evolves, we witness both promising trends and setbacks. While Arbitrum and Bitcoin Cash face challenges and retracements after previous bullish runs, there are indications that they may regain momentum in the future. Meanwhile, Tradecurve Markets seeks to disrupt the traditional exchange model with its unique offerings. It is crucial for crypto enthusiasts to stay informed about these developments and analyze the potential impact on their investment strategies.
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