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Arbitrum Price Forecast: February 19
The Arbitrum price forecast is for the market to breach the $2.1200 resistance level after the coin witnesses a strong bullish resurgence.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $2.1200, $2.4000
Zones of Demand: $1.8170, $1.5930
The Arbitrum market has now witnessed a revival among buyers. The buyers had been knocked out after over exerting themselves to push the price more than 120% in just 3 weeks. This enables the sellers to take advantage and drown out the market by more than 35%. Nevertheless, the buyers have been revived and have promptly taken charge once again. Since then, we’ve witnessed at least another 40% price rise. However, the coin is now trying to negotiate the crucial $2.1200 resistance level.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum market experiences a resurgence in buyer activity after the bulls have become severely exhausted.
Past bullish actions caused a remarkable 120% price increase in three weeks, but a seller-initiated 35% decline ensued.
Despite this setback, buyers swiftly regrouped, initiating an additional 40% price rise. The current focus of attention is the negotiation of the crucial $2.1200 resistance level.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, bulls establish their control, ensuring a sustained arrangement of Parabolic SAR (Stop and Reverse) dots below the candlesticks, facilitating a continuous upward price trajectory. Crypto signals gotten from the indicators, particularly the EFI (Elders Force Index), indicate the timely response of bulls to prevent a deeper price plunge, which is crucial for maintaining strength above the zero level.
Examining the 4-hour chart, the market’s oscillating upward trend is evident, with Parabolic SAR dots alternately surrounding the candlesticks during the ascent. The EFI indicator on this timeframe reveals a marginal drop of the powerline below the zero level, swiftly recovering to maintain fluctuation around this level. The coin’s current engagement with the $2.1200 level signifies a pivotal moment, and positive crypto signals suggest a potential breakthrough.
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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