Arbitrum's Exit From Nvidia Program Sparks 10% Drop

Arbitrum (ARB) has faced a significant shift in market momentum following its withdrawal from the Nvidia-backed Ignition AI Accelerator program. This decision has left investors with a sense of pessimism, as it raises questions about Arbitrum's future partnerships and long-term strategy. The crypto community has taken notice, with investors becoming increasingly cautious about ARB's future potential. This uncertainty has contributed to a bearish sentiment in the market, leading to heightened volatility.

On April 26, 2025, ARB's trading day began with a strong bullish sentiment, showing an upward trajectory. However, at 01:55 UTC, ARB encountered resistance at $0.3563 and experienced a sharp decline. This downtrend was further confirmed by a Death Cross on the MACD at 02:30 UTC. Despite finding support at $0.3485 at 05:15 UTC, ARB faced another resistance at $0.3563 at 08:40 UTC, leading to another sharp decline. The day ended with ARB closing at $0.3532 after finding support at $0.3434 and moving in an upward channel.

On April 27, 2025, ARB's trading day started with a brief rise, but at 00:20 UTC, it encountered an RSI Overbought condition, signaling a possible trend reversal. This was followed by a pin bar and a full-body red candle at 00:50 UTC, indicating a downtrend. ARB resisted at $0.3624 and began a sharp fall, confirmed by a Death Cross on the MACD at 01:15 UTC. The downtrend continued, with ARB breaking support at $0.3434 and dropping to $0.3381. Despite finding support and moving in an upward channel, ARB encountered an RSI Overbought situation at 08:35 UTC, leading to another decline. The day ended with ARB dropping to $0.3339 after breaking support and breaching a breakout.

The withdrawal from the Nvidia-backed program has raised concerns about Arbitrum's future partnerships and growth potential in the crypto market. This uncertainty has led to a bearish sentiment, with investors closely monitoring key levels to find buying opportunities. If ARB continues its uptrend, it could bounce back and reach its previous high of $0.3624. However, if it fails to move up, it could encounter a sharp decline, suggesting a bearish sentiment. Investors are advised to closely monitor the key levels to determine the best course of action.