- Arbitrum Price Prediction suggests a rise and long term outlook remains bullish.
- ARB crypto price defended $1.0000 and showed minor recovery.
- The Arbitrum crypto price seems to be forming a long term base near $1.00.
Arbitrum Price Prediction suggests a rise and the long term outlook remains bullish till the price sustains above $1.0000. ARB crypto price witnessed minor profit booking after hitting the highs at $1.800. However, the price near to the string support and downside seems limited.
Arbitrum Price formed a double bottom pattern formation in a 4-hour chart and buyers are trying to keep the price above neckline. The price may face an immediate hurdle at $1.3000 and if buyers succeed to break then more upward momentum is possible.
The trading volume in ARB crypto is quite high indicating liquidity is available and gunnine investors are showing the interest. The price is sustaining above both the EMA denotes the trend is in upward direction.
Arbitrum Price is trading at $1.2451 with an intraday rise of 0.14%. The 24 hour volume to market cap ratio is 0.2029. The pair of ARB/BTC is trading at 0.00004456 with an intraday rise of 0.25%.
The chart pattern of ARB with the Bitcoin pair is similar to the USDT pair. It is also in uptrend and showing strength in prices. Buyers seem to be active in both pairs and expecting outperformance in the coming months.
Arbitrum Price might begin the rally soon
Arbitrum Price is consolidation in a narrow range between $1.000 to $1.3000 and likely to break either side soon. If price sustains above both the EMAs then possibility of higher range breakout will increase. If the price breaks the $1.3000 hurdle then price might begin the rally to reach $1.5000.
The next phase of rally in ARB crypto will begin when buyers hold the price above $1.5000 level. Till then price might spend some more time in the range bound sessions. On the other hand, if price faces rejection then it may retrace back to the lower range support at $1.000.
The technical analysis, Arbitrum Price is in uptrend and short term correction will easily absorb at support levels.
Will ARB crypto price expand upward
ARB crypto price formed a bullish engulfing pattern on a daily time frame which shows the correction might halt soon. However, the confirmation will come when the price breaks the $1.3000 hurdle and expands upward.
The MACD curve is rising upward with a strong momentum and generating a positive crossover. It shows strength and bullish momentum might continue in coming weeks. The RSI at 75 sloping upward denotes overbought territory.
Conclusion
Arbitrum Price Prediction suggests a rise in the long term till the price sustains above the $1.0000 support. ARB crypto formed double bottom and buyers trying to break the $1.3000 hurdle. The technical analysis suggests, Arbitrum price is in uptrend and short term selloff will be easily absorbed.
Technical levels
Resistance levels: $1.3000 and $1.5000
Support levels: $1.0000and $0.9000
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.