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Arbitrum Price Forecast: February 26
The Arbitrum price forecast is for the bulls to persevere in their bullish foray to reach the $2.1200 resistance level.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Resistance Levels: $2.1200, $2.4000
Support Levels: $1.8170, $1.5930
Arbitrum has not yet been able to push aside the influence of the sellers on the market. The price rose highly in early January to reach the $2.4000 key level before it was rejected. Subsequently, the price slipped through several levels, only to make a reversal around $1.5930. Since then, the journey has not been as straightforward, as the coin has been knocked back around $2.1200. Another rally is trying to commence at $1.8170.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum struggles to shake off the sellers’ influence, facing hindrances in its upward movement around the $2.1200 level.
Following a notable surge in early January, reaching the critical $2.4000 level, the coin encountered rejection, triggering a descent through various levels before initiating a reversal near $1.5930.
However, the journey encounters hurdles, and a fresh rally is attempting to emerge, commencing at $1.8170.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
Examining the daily chart, a prolonged line-up of Parabolic SAR (Stop and Reverse) dots beneath the daily candlesticks indicates the market’s persistent effort to reclaim higher prices. The Stochastic indicator illustrates the market’s trajectory, oscillating from overbought to oversold and back to overbought.
On the 4-hour timeframe chart, challenges persist as the price struggles to promptly rise from the $1.8170 demand level, facing resistance around $1.9000. Notably, there is a significant accumulation of Parabolic SAR dots above the candles, indicating prevailing resistance. The Stochastic Oscillator lines oscillate between the overbought and oversold borders, signaling a lack of a well-defined market direction at present. Crypto signals suggest the market is grappling with uncertainties.
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