Arbitrum

Resistance

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>The ARB token price is waiting for a bounce above the round mark of $2.</a></li>
 <li><span>2</span> <a>The token anticipates a breakout and hovers close to the 20-day EMA mark.</a></li>
</ul>
<p>Arbitrum (ARB) token price action displays rejection from the highs of $2.40 and retracement below the critical support mark of $2.00. The token is trying to take support on the 20-Day EMA mark and forming a symmetrical triangle pattern, which may lead to a bounce.</p>
<p>The ARB token price showed a higher low formation, confirming the bears’ desire to book profits at the highs. If the token succeeds in securing the 20-Day EMA mark, it may lead to a breakout, which rolls the token toward $2.10. Conversely, if it slips below $1.80, it may boost the selloff that redirects the token to $1.50 shortly. Amid the market surge, the token failed to sustain gains above $2, and a throwback resulted in a decline of over 20% this month.</p>
<p>The Arbitrum token (ARB) price was $1.91 at press time, with an intraday drop of 5.58%, showing neutrality on the charts. Moreover, the trading volume increased by 71.89% to $566.47 Million. The pair of ARB/BTC is at 0.0000362 BTC, and the market cap is $2.35 Billion. Analysts are bullish and suggest that the Arbitrum (ARB) token price will face volatility. It may gain momentum above $2 soon.</p>
<h2 class="wp-block-heading" id="strong-arb-displays-symmetrical-triangle-formation-on-the-daily-timeframe-strong"><strong>ARB Displays Symmetrical Triangle Formation on the Daily Timeframe</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/R86AMQ5kXjT9kdzp0ndjtgF42gjEMlSDaLw3FIMQRvDnWCocluWdG0p8xGdMlfXC5lDyKgO-7TwcnhgKKe-culos_sUI_uvYn7AiOqmdwu4cx-R0Jz-PT_60DzVCOYVAgIUObRav4W6WyccRzT6aAYg" alt="ARB Price Prediction: Will ARB Retain Strength Above $2 Mark?">
  <figcaption class="wp-element-caption">
   Source: ARB Price Chart By TradingView
  </figcaption>
 </figure>
</div>
<p>The ARB token was in an uptrend on the daily charts and witnessed a massive recovery from the lows. The token recently jumped above $2, which gives bulls an edge. The trend could not last longer, and profit booking led to a drawdown from the highs. However, the trend is intact, and indecisiveness was noted between the bulls and the bears. Bulls must hold the token above the 20-Day EMA for a healthy recovery.</p>
<p>The RSI curve slipped from the overbought zone and is near 45, noting a negative crossover. Similarly, the MACD indicator shows a bearish crossover and selling pressure, which suggests the token might reveal a breakdown soon.</p>
<h3 class="wp-block-heading" id="strong-arb-exhibits-an-uptrend-on-weekly-charts-strong"><strong>ARB Exhibits an Uptrend on Weekly Charts&nbsp;</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/Uq14_JYIRegskCnSKMC6TBUgYJyjdE5RD0H-dctZx4lfolS4DJSh7T_LDbwH5vVN3nVqZfxElmgW6OLHSTRdpidEu0GDnaQ1MANgEuuFsavsSI7S0ABWJYoqNg7-Tak912HT8CD3-XUCRFSb3dGs118" alt="ARB Price Prediction: Will ARB Retain Strength Above $2 Mark?">
  <figcaption class="wp-element-caption">
   Source: ARB Price Chart By TradingView
  </figcaption>
 </figure>
</div>
<p>Despite the ups and downs in the market, the Arbitrum token persisted in delivering bullishness in the past and rolled back from the lows to the highs. However, after a massive comeback, some profit booking may be seen, which is not unusual, but investors need to keep an eye on the $1.50 mark until the mark is not breached. The trend is positive, but it will lead to a correction in the short term if breached.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The <a href="https://www.thecoinrepublic.com/2024/01/02/indonesia-police-confirmed-closure-of-10-bitcoin-mining-operators/" target="_blank" rel="noopener noreferrer nofollow">Arbitrum token price</a> displayed a bearish engulfing candlestick and noted a profit booking phase from the highs, triggering panic among investors. The 20-Day EMA mark is a make-or-break zone that bulls are trying to secure to avoid any correction. The RSI and MACD are giving bearish signals.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $1.70 and $1.50</p>
<p><strong>Resistance Levels:</strong>$2.10 and $2.30</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

ARB Price Prediction: Will ARB Retain Strength Above $2 Mark?

Tabla de contenidos

Thecoinrepublic.com

Otros artículos publicados el 21 feb 2024

Cryptocurrency Market Sees Ebb and Flow as Coins Battle for Dominance

BitMEX Co-Founder Critiques Cardano’s Performance and Projects

Pullix (PLX) to Outshine Algorand (ALGO) And Stacks (STX) as it Announces Listing on BitMart

Bitcoin Price Drop: Investors Worry as Value Falls

Why Bitcoin, BTC ETFs are not the same in Michael Saylor’s books

Breaking: US DOJ Requests New Order In Case Against Ex-Binance CEO Changpeng ‘CZ’ Zhao

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!