Arbitrum

The post <a href="https://coinpedia.org/price-analysis/arbitrum-breaks-out-of-its-key-level-arb-price-to-record-new-high-soon/">Arbitrum Breaks Out Of Its Key Level! ARB Price To Record New High Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto market continues to display significant price fluctuations, resulting in top cryptocurrencies recording high volatility in their respective prices. Further, the Arbitrum price has added over 15% to its portfolio within the past 24 hours, making it one of the top gainers of the day. 
The <a href="https://coinpedia.org/price-prediction/arbitrum-arb-price-prediction/">ARB price</a> traded in a closed range between $0.9904 and $1.0380 for about a week, after which the market gained momentum and the price broke out of the range. 
However, the rally was short-lived as the price faced rejection at $1.1133, after which it traded sideways for over a week. Following this, the bulls regained momentum and jumped approximately 16% before it faced rejection at $1.2036. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/VmgEd-8ssXVI9hbPGsIaaWf2p7cW1HYWfEO02SaQZP9apuwAcpoFRFdt4uZJNv_4quaiZAqARobbQOJbh9_25in1yDW0jqst2KT0N-EKRFV508siceAuTsw-mM96xfk7_eVK8iogauXUy_I-fjQ5raA" alt="Arbitrum Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ARB/USDT
 </figcaption>
</figure> 
The Arbitrum token then traded sideways in a consolidated range between $1.1133 and $1.2036 for a brief period. After multiple failed attempts to break out, the coin lost momentum, resulting in the price breaking down its support level of $1.1133. 
The price then hovered close to its resistance/support level of $1.1133 for a while after which the bulls regained momentum and jumped over 31% within a day. After reaching a top of $1.4594, the bulls lost momentum, resulting in a correction of over 8%. 
<h2 class="wp-block-heading" id="h-will-arb-price-rise">Will ARB Price Rise?</h2> 
The technical indicator, MACD, displays a decline in the histogram, indicating reduced buying pressure in the industry. Further, the averages show a high possibility of a bearish curve, suggesting the price may experience a trend reversal in the coming days. 
If the bulls hold the price above the support level of $1.3089, the ARB price will regain momentum and prepare to test its resistance level of $1.4192 over the weekend. Maintaining the price at that level will set the stage for Arbitrum to test its upper resistance level of $1.4594 this month. 
Conversely, if a trend reversal occurs, the price will lose momentum and fall to test its lower support level of $1.2036. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its important support level of $1.1133.

Arbitrum Breaks Out Of Its Key Level! ARB Price To Record New High Soon?

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