- Arbitrum (ARB) breaks resistance at $1.19, signaling strong bullish momentum.
- CMF and RSI indicators hint at continued support for ARB/USD price.
- Indicators point to a potential bearish pressure as stochastic RSI and MACD show mixed signals for ARBUSD.
After a negative trend gripped the Arbitrum (ARB) market in the early hours today, support at $1.04 was tested but held firm. Consequently, bulls reclaimed control and pushed the price of ARB back up to its prior resistance level of $1.19. ARB was priced at $1.16 at the time of publication, reflecting an 8.51% increase from the support level.
The swift price increase reflects substantial market purchasing pressure, implying that investors believe Arbitrum (ARB) can continue its upward trend. If the bullish trend breaks through the $1.19 resistance level, the next level to watch for is around $1.30.
Breaking through this level offers up more upside potential for ARB, as it represents a substantial shift in market sentiment and entices more buyers. During the rally, ARB’s market capitalization and 24-hour trading volume increased by 8.67% and 17…
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