
Arbitrum Price Prediction: On April 13th, the Arbitrium coin price gave a bullish breakout from a resistance trendline which undermined bullish growth for nearly three weeks. Thus, a shift in market sentiment attracted significant inflow, recording a 50% jump from the last swing low of $1.15. However, the price hits a minor roadblock near the $1.73 mark and the buyers would need a sustained breakout above it to resume a bullish rally.
Key Points:
- A bullish breakout from the neckline resistance of the double bottom pattern set ARB price for a 10% Rise
- A 20 EMA slope has proved to offer strong support during the occasional pullbacks.
- The intraday trading volume in Ether is $1.41 billion, indicating a 29% gain.
Source- Tradingview
After a massive rally last week, the ARB price witnessed a minor consolidation between the $1.73 and $1.57 levels. This narrow range was needed to absorb supply pressure and stabilize the price for further growth.
Moreover, in the 4-hour time frame chart, the consolidation phase revealed the formation of a double bottom pattern. With the emergence of this pattern, the Arbitrum price shows strong sustainability above the $1.57 support.
Today, the ARB price jumped 8.92% and gave a massive breakout from the $1.73 neckline resistance of the double bottom pattern. This breakout should indicate the recuperate bullish momentum and a higher possibility of uptrend resumption.
By the press time, the Arbitrum coin trades at $1.75 and the potential buyers can look for entry opportunities if the prices show sustainability above the $1.73 flipped support. With sustained buying, the buyers may drive the altcoin 10% up to hit the $1.925 mark.
While things look optimistic for ARB, a breakdown below $1.73 will weaken the bullish theory.
Technical Indicator
Trend-Based FIB Extension: Consider the recent consolidation as a minor pullback, the FIB indicator reflects, the correction rally may surge the ARB price to the potential target of $1.925, $2.04, followed by $2.16.
RSI: A bearish divergence in the RSI slope reflects weakness in bullish momentum and a higher possibility for price correction.
Ethereum Coin Price Intraday Levels-
- Spot rate: $1.72
- Trend: Bullish
- Volatility: Low
- Resistance level- $1.92 and $2.04
- Support level- $1.58 and $1.44
The post Arbitrum Price Prediction: Is it Too Late to Buy ARB Coin after a 50% Price Rally? appeared first on CoinGape.
- Website
- Mobile app
- Telegram Channel
- Telegram Group
- YouTube
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks