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Arbitrum Price Forecast: January 1
The Arbitrum price forecast is for market buyers to drive the price even higher beyond the all-time high after an impressive start to the new year.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $1.7400, $1.8170
Zones of Demand: $1.5930, $1.1550
Arbitrum not only finished the year 2023 at a strong price level, but it has also started the new year on a very high note. The price surged on New Year’s Day to $1.7400, which is just a few points shy of its all-time high at $1.8170. The good part is that the bulls remain pumped and primed to keep driving the market higher, and we can expect to surpass the all-time high shortly.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum not only concluded 2023 at a robust price level but has also initiated the new year on a notably strong note.
The price experienced a surge on New Year’s Day, reaching $1.7400, just a few points shy of its all-time high at $1.8170.
Encouragingly, the bullish momentum persists, with indications pointing towards a potential surpassing of the all-time high in the near term.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
On the daily chart, since the coin’s ascent from $1.0310, the Parabolic SAR dots have consistently aligned below the candlesticks, reflecting substantial bullish strides despite occasional pullbacks. The RSI (Relative Strength Index) line rebounds from the middle line, extending beyond the border into the overbought region.
Examining the 4-hour timeframe, the Parabolic SAR dots maintain alignment below the candlesticks on the daily chart following the most recent pullback. While the RSI line fluctuates between the overbought line and the 50 mark, it presently marginally resides in the overbought zone. The Arbitrum bulls exhibit sustained enthusiasm, poised to drive the market beyond its all-time high.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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