Arbitrum price gained traction and headed north amid the broader market recovery. The crypto currently stands at a moderate weekly gain of 10.81%, indicating the recovery in the recent sessions.
Moreover, despite the recent recovery in the short term, the investors seemed to be confused. This is because the Arbitrum was hovering in a long-term bearish trend per the key 200-day Exponential moving average.
However, the analysts noted a bullish divergence in an important on-chain metrics: the price DAA divergence indicator. This hinted at a possible recovery in ARB price. Let’s analyze it and find a possible trajectory in Arbitrum in the short term.
ARB Price DAA Divergence Indicator Highlights A Bullish Scenario Ahead
Arbitrum was trading close to $0.59 at the time of writing, indicating a swift intraday loss of 0.79%. Despite losing intraday, the crypto still boasts a positive weekly jump of 10.81%, indicating a recovery in the recent sessions.
Moreover, analysts have
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