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bullish

Arbitrum

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<p>Despite the price of Bitcoin dropping to $92k levels, the ARB price trend continues a rounding reversal. The bullish trend in the Arbitrum is heading to cross the $1 milestone shortly.&nbsp;</p>   
<p>Amid the increasing upside potential, a breakout rally targets the $1.86 mark. Find out more in the ARB price analysis below.</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 a rounding bottom reversal gaining momentum. The ongoing recovery rally, starting from $0.4598, has increased by nearly 100% over the past three weeks.&nbsp;</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/27140520/image-24-1024x509.webp" alt="Arbitrum (ARB) Price Chart" class="wp-image-386008">
</figure>   
<p><a href="https://www.tradingview.com/x/h1MXRpOx/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>Currently, it is trading at $0.91, with an intraday gain of 4.87%. This creates a bullish engulfing candle and undermines last night's fall of 3.83%. Currently, the ARB price trend showcases a sideways trend slightly above the 23.60% Fibonacci level.&nbsp;</p>   
<p>This crucial support level is priced at $0.8608. As the bullish trend gains momentum, the immediate price target stands at 38.20% Fibonacci level at $1.12.&nbsp;</p>   
<p>The crucial resistance coincides with the neckline of the rounding bottom pattern. Furthermore, a resistance zone extending from $1.13 to $1.17 stands slightly above the Fibonacci level. Hence, the ongoing rally is approaching a massive overhead supply.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-technical-indicators">Technical Indicators:</h3>   
<p>EMA: The recovery rally has surpassed the 200-day EMA, resulting in a bullish crossover in the 50- and 100-day EMA lines.&nbsp;</p>   
<p>MACD: The MACD and signal lines maintain an impressive positive trend with a gradual surge in bullish histograms.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-will-arbitrum-price-hit-250">Will Arbitrum Price Hit $250?</h2>   
<p>If the ARB price crosses the $1 psychological mark, it will fuel the underlying bullish sentiments, resulting in a surge of trend momentum. Furthermore, the broader market recovery will increase the chances of a breakout rally in the ARB price trend.&nbsp;</p>   
<p>Based on the Fibonacci levels, the bullish breakout of the rounding bottom pattern could reach $1.86 or the 78.60% Fibonacci level. Conversely, a drop below $0.86 will retest the 200-day EMA at $0.75, followed by the next support at the 50-day EMA at $0.65.</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-1732696472350">
  <strong class="schema-faq-question">What is driving ARB's recent price recovery?</strong> 
  <p class="schema-faq-answer">The recent ARB price recovery is driven by a rounding bottom reversal pattern, bullish EMA crossovers, and a breakthrough above critical Fibonacci levels.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732696475189">
  <strong class="schema-faq-question">What are the key resistance levels for ARB?</strong> 
  <p class="schema-faq-answer">The main resistance levels for ARB are the 38.20% Fibonacci level at $1.12 and the resistance zone ranging from $1.13 to $1.17, which aligns with the rounding bottom neckline.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732696475774">
  <strong class="schema-faq-question">What could invalidate ARB's bullish trend?</strong> 
  <p class="schema-faq-answer">A decline below the vital support at $0.86 or the 200-day EMA at $0.75 could undermine the bullish trend and lead to a bearish reversal.</p> 
 </div> 
</div>

ARB Price Analysis: Will $1 Breakout Push Arbitrum to $1.86?

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