bullish

Rally

Arbitrum

Read

<p>The ARB price trend maintains a bullish approach with the Bitcoin price dropping below the $95,000 mark. With a 26% surge over the last 7 days, the ARB has a market cap of $3.864 billion.&nbsp;</p>   
<p>With the ongoing rally unaffected by the broader market pullback, the upside potential for ARB is growing. Will this growing rally result in a massive 2x rally in December? Let's find out.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-arbitrum-arb-price-performance">Arbitrum (ARB) Price Performance</h2>   
<p>In the daily chart, the ARB price action shows the Rounding Bottom reversal rally gaining momentum. The decline of the Rounding Bottom pattern coincides with the 38.20% Fibonacci level at $1.12.&nbsp;</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/26134346/image-20-1024x509.webp" alt="Arbitrum price chart" class="wp-image-385476">
</figure>   
<p><a href="https://www.tradingview.com/x/mz02XrVR/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>Over the past 5 days, the ARB price action has made consecutive bullish candles, accounting for a price jump of 34%. The bull run has exceeded the 200-day EMA and the 23.60% Fibonacci level at $0.86.&nbsp;</p>   
<p>Currently, the ARB price is trading at $0.899, with an intraday move of minus 0.70%. This teases a potential retest of the 23.60% level for a bullish recovery. The Rounding Bottom reversal started with a bullish engulfing candle on November 5th and has resulted in a 91% surge until now.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-technical-indicators">Technical Indicators:</h3>   
<p>EMA: The rising ARB price has spiked the 50-day and 100-day EMA lines, resulting in a bullish crossover. Further, the 50D and 200D EMA golden crossover chances have significantly increased.&nbsp;</p>   
<p>MACD: The bullish trend has prolonged the MACD and Signal Line rally with gradually increasing bullish histograms.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-will-arbitrum-price-hit-250">Will Arbitrum Price Hit $250?</h2>   
<p>The ongoing rally aims to challenge the neckline with the $1 psychological marker resistance on the horizon. In case of a bullish breakout, the uptrend is likely to reach the 78.60% Fibonacci level at $1.8679.&nbsp;</p>   
<p>Conversely, the crucial support below the 23.60% Fibonacci level is present at the 200-day EMA at $0.75 and the 50-day EMA at $0.6476.</p>   
<p>Curious about Arbitrum’s future? Read our <a href="https://coinpedia.org/price-prediction/arbitrum-arb-price-prediction/" target="_blank" rel="noreferrer noopener">Arbitrum (ARB) Price Prediction</a> for an overview of long-term targets!</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732608853979">
  <strong class="schema-faq-question">What is driving the bullish trend in ARB price?</strong> 
  <p class="schema-faq-answer">The bullish trend is driven by the Rounding Bottom reversal pattern, a 91% surge since early November, and bullish crossovers in key moving averages like the 50-day and 100-day EMAs.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732608861444">
  <strong class="schema-faq-question">What are the key resistance levels for ARB price?</strong> 
  <p class="schema-faq-answer">The immediate resistance lies at the $1 psychological level, followed by the 78.60% Fibonacci level at $1.8679.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732608861750">
  <strong class="schema-faq-question">What could invalidate the ARB rally?</strong> 
  <p class="schema-faq-answer">A breakdown below the 23.60% Fibonacci level at $0.86, with further declines toward the 200-day EMA at $0.75, could invalidate the bullish momentum.</p> 
 </div> 
</div>

Arbitrum’s 91% Rally Targets $1: Next Stop at $1.86?

Table of Contents

CoinPedia News

Other articles published on Nov 26, 2024

South Korean Investors Forgot About Bitcoin and Ethereum! They Turned to These Four Altcoins That...

Top 5 Cryptos to Turn $200 Into $2 Million in the Upcoming Bull Run!

Bitcoin reserve bill introduced in Brazil’s Congress

2025 Gains Beckon: Why Dogizen Is the Best New Crypto This Cycle

BitMEX's Former CEO Arthur Hayes Bought This Altcoin Instead of ATH Coins He Sold at a Loss! Here...

Pump.fun Removes Livestream Feature Over Safety Concerns

Join our free newsletter for daily crypto updates!