ARBITRUM PRICE ANALYSIS & PREDICTION (February 24) – ARB Stalls Under $0.5 as it Gathers Momentum, Where Next? 

ARB continued to subject trading to a sideways movement following a swift recovery from its lowest level some weeks back. While trading calmly now, it appears gathering momentum for the next move.

After registering a major loss this month, ARB located solid ground and bounced sharply from a year low. This marked a temporal halt in the mid-term bearishness and the market remained indecisive.

Last week, the asset went through a small increase after locating support at $0.42 in the preceding week. However, it faced some hurdles while trying to recover and later calm under $0.5 throughout the week.

The price appears calmer this week due to continuous volatility shrinks. This caused a serious lack of interest among traders and investors as it continued to struggle, with a little-to-no movement for a couple of days.

A sudden movement from the current trading level should determine the next direction of the market. An upward movement should bring an increase in the market.

If the price breaks down again, ARB may advance bearish actions until it finds solid ground. As of now, nothing much should be expected as it continues to trade flat on the daily chart.

ARB’s Key Level To Watch

Source: Tradingview

While the price appears calm, the next key level to watch for an increase is $0.516. A daily close above this level could send the price to $0.613 and maybe $0.75 shortly.

Considering a downward move, ARB may plunge through $0.42 to retake the $0.345 level that provided support this month. A drop off this level could slide the market to a low of $0.3 before halting sell.

Key Resistance Levels: $0.516, $0.613, $0.75

Key Support Levels: $0.42, $0.345, $0.3

• Spot Price: $0.47
• Trend: Bearish
• Volatility: Moderate

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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