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Arbitrum (ARBUSD) Price to Break Up at $2.096 Level

Johnathon Fox
02/13/2024 | UPDATED ON: 02/13/2024

Arbitrum Price Forecast: February 13
The ARBUSD pair is currently making its way up breaking up the $2.096 supply level and remains stable at the upside. However, a 4-hour candlestick above the mentioned supply level would invalidate any bearish theory. Therefore, if buyers can put more effort into their tension in the market, a shift in the trend upward will be achieved.

Key Levels:
Resistance Levels: $1.700, $1.800, $1.900
Support Levels: $1.500, $1.400, $1.300

ARBUSD Long-term Trend: Bullish (4H chart)
ARBUSD turns positive as can be seen from the chart below. The coin price now trades slightly above the EMA-50 and may break up at the $2.096 level to confirm the bullish sentiment.
Arbitrum (ARBUSD) Price to Break Up at $2.096 Level
The high order flow from the bulls to the $0.02892 during yesterday’s session also added to this bullishness. However, the bulls are now set to break up at $2.096 level to dominate the market.

Pressure from the bulls at a $1.948 high value in the previous action has sustained its upward stability in its recent high.

The price of Arbitrum at the $1.941 high level above the EMA-50 as the 4-hourly session opens today indicates an uptrend in the context of the strength of the market. This gives room for a more bullish impact on the market at the moment. Thus, a break up above the $2.096 resistance barrier would intensify the buying pressure on the crypto.

Adding to this, there is a tendency for the ARBUSD to rise further, if the support level holds, this will enable buyers to break up at the $2.096 level soon in its long-term perspective.

ARBUSD Short-term Trend: Bearish (1H chart)
The short-term outlook’s momentum looks bearish but is starting to turn bullish as seen from the chart now. The price of ARBUSD is currently trading at the resistance close to the EMA-50 and may break up at the $2.096 level. So it seems likely that the bulls will take over and push us higher.
Arbitrum (ARBUSD) Price to Break Up at $2.096 Level
Despite the interactions from the short traders, the bulls caused a rise to a $1.941 high level below the EMA shortly after the commencement of the 1-hourly chart opens today. Thus, buyers need to add more pressure to their activities to break up the $2.048 supply level and move the market beyond the $2.096 price level.

Meanwhile, the market is pointing up on the daily signal indicating an upward move. This will now compel the long traders to emerge and push the market price of Arbitrum up to a significant level of $2.096 upper high level in the days ahead in its short-term time frame.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
Previous Post: « Price of Sponge Is Heading Toward $0.000886 Resistance Level
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