Is the arbitrary price (ARB) is about to reach $ 1? Here is what the graph tells us about
The expression returned to the spotlight after leaving a long declining direction. The price climbs quickly, and merchants. The world of analysts in the world of plans on X indicated that the price of ARB has penetrated several resistance areas and is now more than 50 % since the collapse.
When writing, ARB is traded by about $ 0.4781, which indicates a 25 % increase during the past day. The trading volume jumped by 192 %, which indicates a strong attention from buyers. With this type of momentum and clear technical signals on the graph, many are now closely monitoring to see if ARB can turn to this one -dollar teacher.
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ARB prices strong outbreak of the declining direction
The regret was moving down in a channel style on the graph for 12 hours since late 2023. The price continued to make less peaks and lower valleys, indicating that the sellers were controlling for a long time. But now, this trend has changed. In early May, the arbitrary price erupted over the upper limits of the channel, indicating a strong reflection pattern.
This upward move was confirmed by successive ups and a rapid increase in purchase of purchase. The ARB penetration took about $ 0.47 to the highest level of about $ 0.83 in the short time frame. This penetration matched the projection in which World of Charts subscribed, which set the ups and indicated that the price was taking a predetermined targets.
The levels of arbitrary resistance to support have turned
During his gathering, the ARB price wiped many important resistance areas. This region includes from 0.50 to $ 0.53 near the top of the concession channel and a higher range ranging from 0.60 – 0.65 dollars, which was resistance in April. These areas now work as support.
The first support stands near 0.63 – 0.65 dollars. The secondary support area is placed about 0.58 – $ 0.60. Prices above these levels may encourage continuous upward movement.
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Moreover, a tweet from World of Charts added a context to the graph, focusing on the power of the assembly. The analyst stated That ARB has already delivered 50 % in profits while moving towards its next goal. A tweet is in line with the 76 % increase in the graph.
At the same time, the trading volume increased by 192 %, confirming a strong participation of buyers. These numbers confirm the severity of the penetration and indicate that the market is actively involved with the original.
The outlook based on the structure of the arbitrary graph
Based on the current price structure, if the support is supported near $ 0.63, the ARB can reconsider the area of 0.80 – 0.85 dollars. There is also a possibility to re -test $ 0.90, a region that corresponds to the highest level of March. The step that goes beyond these levels can open the door for $ 1 test, which represents a major psychological resistance.
However, if the ARB price decreases to less than $ 0.63, It can recover to $ 0.60 or even reconsider the $ 0.53 region that was characterized by the penetration area. The following few trading sessions will probably determine whether the ARB can keep its momentum or enter the standardization stage.
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