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Arbitrum Price Forecast: February 12
The Arbitrum price forecast is for the bulls to keep powering the market through the barriers to reach the significant level of $2.1200.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $2.1200, $2.4000
Zones of Demand: $1.8170, $1.1550
The Arbitrum market is steadfastly powering its way upward, overcoming initial challenges and signaling the dominance of bulls in the current market scenario. Following an unprecedented rally to $2.4000, buyers faced a setback, resulting in a price plunge to $1.5930. However, resilient bulls emerged, driving the market upward. The resistance encountered at $1.9000 prompted a pullback to $1.7400, yet the market rebounded beyond $1.9000, with further upward movements anticipated.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum market is steadfastly powering its way upward, overcoming initial challenges and signaling the dominance of bulls in the current market scenario.
Following an unprecedented rally to $2.4000, buyers faced a setback, resulting in a price plunge to $1.5930. However, resilient bulls emerged, driving the market upward.
The resistance encountered at $1.9000 prompted a pullback to $1.7400, yet the market rebounded beyond $1.9000, with further upward movements anticipated.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, the MA period 20 (Moving Average) maintains a supportive role below the daily candlesticks, after the price trades above it. Despite the initial notable drop, the EFI (Elders Force Index) indicator halted just above the zero level. The indicator’s line now remains above zero, signifying the bulls’ influence in propelling the market upward, as indicated by crypto signals.
An initial rejection at $2.1200 is evident in the 4-hour timeframe, leading to a pullback. However, the market endeavors to stabilize above the MA period 20 and the $1.9000 level, presenting a platform for potential upward movement. The EFI line, minimally affected, clings to the zero level, indicating ongoing resilience. Crypto signals align with this positive momentum, setting the stage for the next target at $2.1200.
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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