- ARC holds at $0.006000 support while traders expect a rebound or decline.
- Resistance at $0.01111 can trigger selling pressure, as EMAs show bearish trends.
- RSI at 37.86 indicates weak momentum, but a rise above 40–50 can confirm a potential reversal.
A prominent price zone has been set for the ARC/USD pair since it continues to hover near the $0.006000 support area. Analysts are keeping price action under close watch to determine whether the downtrend will continue or a reversal will take place.
Market Overview and Technical Factors
ARC has been in a steady downtrend, making lower highs and lower lows. The currency is now near a key level of support where past price action has demonstrated great buying demand. The market is at a point of decision, with buyers anticipating the first indication of stabilization or further weakness.
Crypto Caesar dissected the latest chart data, highlighting key technical drivers of price action. He reported that ARC has tested the $0.006000 support level, which showed signs of accumulation. His analysis shows that previous encounters with this region led to strong bounces. The analyst also stated that long wicks on recent candlesticks indicate buying pressure, highlighting the importance of this level.
Source: Crypto Caesar
Crypto Caesar shared a probable price recovery situation, with pricing resistance at $0.01111. If ARC rallies, it might first face this resistance before encountering selling pressure. He further noted that a breakout above $0.01111 could represent a change in trend to bullish momentum, which could experience additional gains.
Secondly, two Weekly Exponential Moving Averages (EMAs) on the weekly chart show current market dynamics. The first EMA is at $0.00978883, and the second one is at $0.01973661. Crypto Caesar observed that the price still trades below both EMAs, showing that sellers are still in control. Closing above such levels would mean a possible change in trend.
Momentum Indicators and Market Behavior
Crypto Fella also checked momentum indicators and price action. He pointed out that the Relative Strength Index (RSI) is at 37.86, near oversold levels. He explained that while this suggests weakening selling pressure, confirmation of a reversal would require RSI to break above the 40–50 levels.
Crypto Fella also considered price volatility, with long candlestick wicks as a sign of strong market activity. He mentioned that a previous test of this support level saw a big price movement, so he was expecting the same response.
Source: Crypto Fella
His trend structure analysis showed that a downtrend line is still intact. He noted that unless the price breaks above this trendline, bearish conditions are in place. However, he added that a breakout above resistance would confirm the move towards bullish sentiment.
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