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Arbitrum Price Forecast: January 15
The Arbitrum price forecast is for the market to break its latest all-time high following the present bullish trend.
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 keeps going from strength to strength as it breaks its all-time high record again by surpassing the $2.1200 significant level. This comes after previously breaking its previous all-time high at $1.8170 on the 3rd of January. After initially breaking through the $1.8170 level, it retraced back below it by more than 10% before firing beyond it to break the new high created. The price will now adopt a similar pattern, and we could witness the ARBUSD break its all-time high three times in January.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum market continues its impressive performance, reaching an all-time high by surpassing the significant level of $2.1200.
This accomplishment follows its previous breakthrough beyond the all-time high of $1.8170 on January 3rd. After initially retracing by over 10% from the $1.8170 level, the market surged beyond it, establishing a new record.
The price is poised to follow a similar pattern, potentially breaking its all-time high multiple times in January.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
Examining the daily chart, the candlesticks consistently ride above the MA period 20 (Moving Average). Simultaneously, the ATR (Average True Range) indicator indicates increased volatility, suggesting that bulls are utilizing this volatility to maintain an upward price trend.
On the 4-hour timeframe, the observed trend is characterized by the price dropping below the MA period 20 during retracements, only to recover and ascend above it. This trend implies a potential risk of a price drop without recovery at some point. The 4-hour ATR indicator exhibits troughs as it rises. Overall, if the market sustains this pattern, it may soon break the next ATR level of $2.4000.
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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