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- 1 Arbitrum price prediction says bulls are back and getting ready to take the ARB to new highs.
- 2 ARB price gained 15% approx in the last four trading sessions.
- 3 The ARB token defends the $1.00 support and shows a bounce.
Arbitrum price prediction suggests bulls are dominating and getting ready to hit new swings high. It skyrocketed 15% in the current week and broke out of the $1.4000 level, which triggered the positive sentiment.
ARB price gained momentum and formed a giant bullish candle, which shows the strength of the bulls. The recent move in this token is supported by massive volume, which increases the possibility of sustaining the higher levels.
The EMAs also reversed upward and generated a positive crossover. It boosted the confidence of the existing investors and also attracted new participants. The trend of ARB crypto is in an upward direction so any short-term correction may get bought up.
In the last two months, Arbitrum price spent time in a narrow range of consolidation between $1.000 to $1.2000. While consolidating it formed a strong base and turned the range into a demand zone.
Recently, buyers won the battle inside the range and succeeded in breaking out of the higher range. It fueled the momentum and the price began the upward journey. Presently, ARB price is trading at $1.5592 with an intraday uptick of 3.59%.
Arbitrum Price Skyrocketed; Will Bulls Succeed to Hit New Highs?
Arbitrum price prediction turned bullish for the next few months and suggests the momentum has just begun. If the buyers succeed in holding the price above the $1.4000 level, bulls will remain active. So, more scope for the upside is open.
By analyzing the chart pattern of ARB, it can be said that the recent move looks powerful, and big players’ participation is visible. Therefore, in the future, the bulls may succeed in hitting new highs and reward investors in the long run.
ARB Price Heading Toward $2.00 Mark
ARB price is marching toward the $2.00 mark which may act as a next hurdle for the bulls.
If the overall market sentiment remains bullish then ARB bulls might try their best to take control over the $2.00 supply zone. Moreover, if they succeed, the next phase of the rally may trigger and this token may join the 2024 bull run.
The MACD curve is sloping upward and the histogram bar is forming green bars. It shows the strength of bulls. Whereas, the RSI at 71 entered overbought territory so minor profit booking may also be visible.
Conclusion
Arbitrum price prediction suggests a rise in the long run and it may hit new highs by January 2024. The recent move in ARB looks powerful and reliable. So, it is better to play bullish bets and stay with the trend.
Technical levels
- Resistance levels: $1.8166 and $2.0000
- Support levels: $1.2533 and $1.1016
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
