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As earlier stated, Arbitrum’s price has surpassed the price threshold at the $1.200 mark. Furthermore, price action has advanced further and is now aiming at higher price marks.
ARB Statistics
ARB Value Now: $1.2094
Abitrum Market Cap: $2B
Arbitrum Circulating Supply: 1,275,000,000
ARB Total Supply: 10,000,000,000
Arbitrum CoinMarketCap Ranking: 35
Major Price Levels:
Top: $1.2094, $1.2300, and $1.2500
Base: $1.2000, $1.1900, and $1.1800
Arbitrum (ARB) Price Action Closes in on the $1.2150 Price Mark
After Abitrum’s price action broke the price resistance mark at $1.2000, buyers seem to have gathered renewed momentum to challenge higher price levels. At this point, price action is now rising towards the $1.2500 price mark, while trading indicators suggest that this target may soon be acquired.
Since about six trading sessions ago on the daily chart, price action has remained above the 9- and 21-day Moving Average curves. However, in the ongoing session, price action has increased momentum towards higher price marks, considering the size of the last price candle.
Also, the leading line of the Moving Average Convergence and Divergence (MACD) has crossed above the equilibrium level. At the same time, the bars of this indicator are indicating that the upside momentum is strong enough to keep prices going higher.
ARB Buyers Are Ready to Extend the Upside Retracement Towards the 1.2500 Price Mark
On the ARB 4-hour market, one can see that bear traders seem to have clawed at the price movement in the last 4-hour trading session. Nevertheless, bullish traders seem so strong that they quickly shake off the effect, as they start a new session on a bullish path.
Consequently, the ongoing sessions show resilience from the buyers’ side of the market and have pushed prices in an upward direction. Price action remains above the MA lines, while the MACD lines continue to rise upwards above the equilibrium 0.00 mark of the indicator.
While the bars of this indicator are now solid green, the curves of this indicator are now at 0.0265 and 0.0176. Consequently, this suggests that price action may eventually claim the 1.2600 price mark.
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