Arbitrum (ARB) Surpasses a One-Month High, Sets Sail Towards Higher Marks

Price action in the Arbitrum market has shown an impressive performance after it exceeded a 1-month high in the ongoing trading session. Furthermore, both technical indicators and price behavior seem to hint at more possible upside retracements in this market.

 

ARB Statistics
Arbitrum Value Now: $1.3111
ARB Market Cap: $1,668,875,032
Arbitrum Circulating Supply: 1,275,000,000
ARB Total Supply: 10,000,000,000
ARB CoinMarketCap Ranking: 34

 

Major Price Levels: 
Top: $1.3111, $1.4000, and $1.5000
Base: $1.3000, $1.2000, and $1.1000

Buyers Are Aggressively in Pursuing the $1.4000 in the Arbitrum Market

 

On the Abitrum daily market, price action has exceeded previously held resistance at the 61.80 Fibonacci Retracement level. Consequently, price action in the ongoing session is already eying the resistance at the $1.3575 price mark.

 

Meanwhile, trading activities in this market are now occurring significantly above the 9- and 21-day Moving Average curves. Simultaneously, the Stochastic RSI is also indicating that upside momentum remains strong.

 

By implication, this suggests that prices are more likely to approach higher price marks as indicated.

The ARBUSDT Bulls Are Showing Determination to Visit the $1.3650 Resistance Level

 

On the 4-hour market, the ARBUSDT price action reveals that the upside retracement is likely to approach the $1.3650 mark shortly. A retracement of this price level is likely to increase buying pressure at this point.

 

A new bullish price candle has appeared on the market and has popped through the 1.3090 resistance price mark. However, the appearance of this price candle suggests that buying activity is limited in the ongoing session.

 

Nevertheless, price action remains above the MA curves, while the RSI curves maintain an upside bearing. Consequently, this is indicative of the fact that price action is ready to extend the retracement towards the $1.4000 mark.

 

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