DYOR

Arbitrum

Buddha

Dogecoin

Gains

<p>Arbitrum (ARB) might see a price surge, according to an analysis by crypto analyst Bitcoin Buddha. In a tweet, Bitcoin Buddha suggested that $ARB is approaching a potential breakout from a triangular pattern, which could drive its price above the $1 mark.&nbsp;</p>
<p><a href="https://coinmarketcap.com/currencies/arbitrum/" target="_blank" rel="noopener noreferrer nofollow">Currently trading around $0.5969</a>, ARB has shown signs of recovery, and market watchers are keen to see if this <a href="https://captainaltcoin.com/expert-predicts-arbitrums-arb-2x-bullish-rally-shares-timeline/" target="_blank" rel="noopener noreferrer nofollow">bullish trend continues</a>.</p>
<h2 class="wp-block-heading" id="strong-triangular-pattern-signals-potential-breakout-strong"><strong>Triangular Pattern Signals Potential Breakout</strong></h2>
<p>The analysis shared by Bitcoin Buddha highlights a triangular consolidation pattern that has formed on the $ARB chart. This pattern, characterized by converging blue lines, suggests that <a href="https://www.tradingview.com/news/coindar:c1438d6a7094b:0-2-33-of-arb-tokens-will-be-unlocked-on-november-16th/" target="_blank" rel="noopener noreferrer nofollow">the token</a> has been consolidating after a period of decline.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ARB</a> is poised for a breakout from a triangular pattern, potentially leading to a sharp price rise. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br> <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ARB</a> will be back above $1 only a matter of time. Long term holders will outperform the day traders. DYOR <a href="https://t.co/0kjMpqywbW" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/0kjMpqywbW</a></p>— Bitcoin Buddha (@Bitcoin_Buddah) <a href="https://twitter.com/Bitcoin_Buddah/status/1848390873618559115?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 21, 2024</a>
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<p>Such formations often precede price movements, and the current upward pressure indicates a possible breakout. The recent action shows $ARB testing the upper trend line of the triangle, which could lead to a strong upward move if breached.</p>
<p>One of the focuses of the chart is the green arrow leading to the upward projection, which suggests that $ARB may go above $1 if it is to breach the level. This feeling corresponds to the tweet made by Bitcoin Buddha who assured that there would be a bounce back. Moreover, he noted that those who held the currency would make profits compared with the short term holders.</p>
<h2 class="wp-block-heading" id="strong-key-support-and-resistance-levels-strong"><strong>Key Support and Resistance Levels</strong></h2>
<p>The chart analysis identifies several critical support and resistance zones that could impact $ARB’s price movements. The token’s support levels include $0.4297, $0.8000, and $0.8648, which have proven resilient during previous declines.&nbsp;</p>
<p>On the upside, resistance levels of $1.2716, $1.6000, and $1.7587 represent hurdles that $ARB may encounter if the anticipated breakout occurs. The highest resistance level observed on the chart is $2.2837, indicating a potential long-term target if bullish momentum sustains.</p>
<p>The support levels have held firm despite fluctuating prices, suggesting a solid foundation for future upward movement. If <a href="https://captainaltcoin.com/expert-predicts-arbitrums-arb-2x-bullish-rally-shares-timeline/" target="_blank" rel="noopener noreferrer nofollow">$ARB can maintain this strength</a>, a breakout could see it surpass the $1 mark, targeting higher resistance points as it gains momentum.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/where-is-the-buy-zone-for-cardano-ada-analyst-weighs-in/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Where Is the Buy Zone for Cardano (ADA)? Analyst Weighs In</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-expert-s-perspective-on-long-term-holding-strong"><strong>Expert’s Perspective on Long-Term Holding</strong></h2>
<p>Bitcoin Buddha’s tweet emphasized that long-term holders of $ARB are likely to outperform day traders. This perspective points to a broader trend of sustained growth rather than quick gains, hinting at a more robust market outlook for the token.&nbsp;</p>
<p>The confidence expressed in the tweet resonates with the technical analysis, suggesting that $ARB could recover and move higher, attracting investors looking for long-term opportunities. Moreover, the tweet further reinforces the bullish outlook for $ARB, underscoring that a return to prices above $1 might just be a matter of time.&nbsp;</p>
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<p>The post <a href="https://captainaltcoin.com/arbitrum-arb-price-could-surge-back-above-1-soon-heres-how/" rel="noopener noreferrer nofollow">Arbitrum (ARB) Price Could Surge Back Above $1 Soon: Here’s How</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Arbitrum (ARB) Price Could Surge Back Above $1 Soon: Here’s How

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