The Arbitrum crypto is exhibiting bullish characteristics. Over the past week, month, and three months, the performance has been exemplary, with an increase of 14.68%, 21.86%, and 91.43%, respectively, indicating a reliable and steady upward trend.
The ARB asset is in a strong upward trend above the zero line, as the MACD is in an exemplary bullish state and a bullish cross has been witnessed, where the MACD line is at 0.0564, the signal line is at 0.0315, and the histogram is growing which is at 0.0248.
Similarly, the RSI is not indicating overbought conditions, indicating that the ARB asset has more room to grow. Additionally, the RSI is at 68 and finding support at 55 on the 14-SMA.
Can Arbitrum Price Show Exemplary Gains Soon?
Moreover, the ARB crypto is exhibiting bullish momentum and upward potential as it remains above the 20 and 50-Day exponential moving averages. The price of ARB crypto has been rising steadily along a trendline.
Mainly, the uptrend started at $0.8000 and hit a high of $2.4111. It formed support at $1.5470 after meeting the supply region. However, the Arbitrum crypto has exhibited a turnaround as the price rallied from the critical level of around $1.5470.
At the time of publishing, the ARB crypto inclined 2.75% in the last 24 hours, trading at $2.22. The ARB crypto asset is expected to have a significant surge as it prepares to break the resistance level and rise from the current support zone.
Therefore, if the demand for Arbitrum remains high, the asset price may continue to surge past its current level. The next price goal could be to reach $3.0, which will test the supply region after overcoming the $2.50 resistance level.
Conversely, if the price of ARB crypto fails to remain above $2.0, it may drop further and break out of the trendline.
Summary
Arbitrum has shown a strong upward trend and bullish indicators. The price action shows that it rose from $0.8000 to $2.22 and may reach $3.0 soon if it manages to overpower the hurdles and jump over it. ARB price highlights the bullish sentiments and perspectives regarding the crypto asset in the daily time frame. The Arbitrum price action highlights a bullish view at the time of publishing.
Therefore, if the demand for Arbitrum remains high, the asset price may continue to surge past its current level. The next price goal could be to reach $3.0, which will test the supply region after overcoming the $2.50 resistance level.
Technical Levels
Support Levels: $0.8000 and $2.22
Resistance Levels: $2.5 and $3.0
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2024/03/08/arbitrum-crypto-can-arb-crypto-surpass-hurdle-thrust-upwards/