Market Analysis

ARBITRUM PRICE ANALYSIS & PREDICTION (January 25) – ARB Finds Support, Is $2 Next Target Before Another Leg Down?

ARB lost more than 16% in the last 7 days but has taken a slight break after finding a temporal support some days back. It appears set for a small gain but is more likely to resume selling pressure shortly.

After initiating sell off from a 10-month peak two weeks ago, ARB witnessed a serious drop throughout last week and closed the weekly price at around $1.82. 

It continued to dip this week and the price slipped to $1.54 on Tuesday. This level suppressed selling pressure and later held as support after climbing briefly above $16. It looks stuck and currently trades at around $1.7. 

The reaction from Tuesday’s low reveals a buying interest. But currently, there’s no strong commitment from the bulls’ side to sustain pressure. It appears buying volume is low at the moment. 

If the buyers regroup well, the price may retest last week’s closing price before advancing higher. The $2 level would be the main retest point to watch in case of more recovery. Around that price level, we can expect the price to start dropping. 

Losing this weekly low could trigger more leg down until it finds a key holding level for a buy. Howbeit, ARB is still in the middle of a storm. 

ARB’s Key Level To Watch

Source: Tradingview

As mentioned earlier, last week’s closing price – $1.82 is the closest resistance level for ARB right now. If the price pushes above the expected drop level of $2, it may encounter resistance at $2.1 before advancing $2.3 and $2.45 in the future. 

While it currently sits above the $1.6 support, a dip below it could propel selling to $1.4 and potentially $1.25, where the buyers are waiting to step back in the near term.

Key Resistance Levels: $1.82, $2.1, $2.3

Key Support Levels:  $1.6, $1.4, $1.25

  • Spot Price: $1.69
  • Trend: Bearish
  • Volatility: High

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

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Leave a Comment

Your email address will not be published. Required fields are marked *