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Arbitrumusd

Will Arbitrum ARB reach $6 in 2025?Hello, Skyrexians! Let's continue analyze different altcoins and try to calculate the potential gains in the bull market if it will happen. Today we have BINANCE:ARBUSDT - one the of top layer 2 in cryptocurrency market. Since March 2024 price has decreased significantly and broke the main "scam" support level. People now don't understand if Arbitrum is going to zero or we will see the significant gains on the bull run. On the chart you can see ARB weekly time frame. After listing price pumped significantly, let's count this move as the wave 1. The further formation we cannot interpret as an impulse. The impulsive wave was only the last decrease, because it has clear 5 Elliott waves inside on the lower time frame. As a result, we can interpret all this move as irregular correction ABC, which forms the large wave 2. May be you tell that it's ugly, but sometimes corrective waves can have very unpredictable shapes. As we can see the wave C inside 2 has been finished already with the bullish reversal bar on the Bullish/Bearish Reversal Bars Indicator . This bar is marked with the green dot. This is potentially very strong reversal sign, high chance to start the bullish phase from now. It's very important to break through the white line, the lips of Williams Alligator indicator and find support above it to trigger the increase. If this happens the next wave is wave 3 has the target area between $3.76 and $6.08. We assume that this target is going to be reached in 2025. Best regards, Skyrexio Team ___________________________________________________________ Please, boost this article and subscribe our page if you like analysis!
Long
by Skyrexio
3
Arbitrum Analysis | Consolidation with a Bearish BiasCurrent Chart Analysis: The daily chart of ARB continues to show a steady downtrend within a broad range. This pattern reflects sustained selling pressure and dominant bearish sentiment in the market. The price is approaching a significant support level around $0.76 - $0.74, historically serving as a crucial zone for price stabilization. Support and Resistance Levels: The current price is near a support level around $0.91. The critical resistance level to monitor is $1.29, which has been a strong barrier, often leading to price struggles and reversals upon testing. Volume Analysis: Trading volumes typically increase during price declines, highlighting intensified selling pressure. During consolidation phases, volumes remain elevated while candlesticks exhibit low volatility. This pattern suggests market uncertainty and a lack of clear directional momentum, potentially signaling position accumulation by traders preparing for the next significant breakout or breakdown. Possible Scenarios: 🟩 Bullish Scenario: A breakout above the local resistance level at $1.10, accompanied by increased trading volumes, could signal a potential bullish reversal, driving the price up to $1.29. To confirm the shift in market sentiment, this breakout should be supported by high volumes and price consolidation above the $1.29 level on the daily timeframe. This could lead to a subsequent phase of price consolidation, allowing for further testing of key resistance levels on the path to continued growth. 🟥 Bearish Scenario: If the price fails to hold above the $0.91 support level, it could lead to further declines. Consolidation below this support level would likely continue the downtrend towards the next support zone around $0.76 - $0.74. Traders should be prepared for potential short positions or implementing protective measures if this scenario unfolds. Overall Market Sentiment: Current Bias: ARB is displaying bearish sentiment, with potential for extended range-bound trading between the support at $0.91 and the resistance levels at $1.10 and $1.29. The recent token unlock event has added significant supply, contributing to downward pressure, while overall market uncertainty in the crypto space exacerbates this trend. Despite the bullish potential from the Robinhood integration, its impact appears muted in the current environment, unable to counterbalance the prevailing bearish dynamics. Recommendations for Traders: ◼️ Monitoring Trading Volumes: Keep a close watch on trading volumes around key support and resistance levels to assess the strength of any breakout or pullback. ◼️ Preparation for Volatility: Given the recent increase in token supply and market uncertainties, expect heightened volatility. Consider risk management strategies such as setting stop-loss orders, adjusting position sizes, and employing careful entry and exit planning to mitigate risks from sudden market movements. Disclaimer: Content for seasoned traders only. Not financial advice. You bear sole responsibility for trading outcomes. ➖ DYOR 🧠 💡
COINBASE:ARBUSD
by TeddyVizion