Arbitrum (ARB) Price Could Surge Back Above $1 Soon: Here’s How

Arbitrum (ARB) might see a price surge, according to an analysis by crypto analyst Bitcoin Buddha. In a tweet, Bitcoin Buddha suggested that ARB is approaching a potential breakout from a triangular pattern, which could drive its price above the $1 mark.

Currently trading around $0.5969, ARB has shown signs of recovery, and market watchers are keen to see if this bullish trend continues.

Triangular Pattern Signals Potential Breakout
The analysis shared by Bitcoin Buddha highlights a triangular consolidation pattern that has formed on the ARB chart. This pattern, characterized by converging lines, suggests that the token has been consolidating after a period of decline.

Such formations often precede price movements, and the current upward pressure indicates a possible breakout. The recent action shows ARB testing the upper trend line of the triangle, which could lead to a strong upward move if breached.

One of the focuses of the chart is the arrow leading to the upward projection, which suggests that ARB may go above $1 if it is to breach the level. This corresponds to the tweet made by Bitcoin Buddha who assured that there would be a bounce back.

Key Support and Resistance Levels
The chart analysis identifies several critical support and resistance zones that could impact ARB’s price movements. The token’s support levels include $0.4297, $0.8000, and $0.8648, which have proven resilient during previous declines.

On the upside, resistance levels of $1.2716, $1.6000, and $1.7587 represent hurdles that ARB may encounter if the anticipated breakout occurs. The highest resistance level observed on the chart is $2.2837, indicating a potential long-term target if bullish momentum sustains.

Expert’s Perspective on Long-Term Holding
Bitcoin Buddha’s tweet emphasized that long-term holders of ARB are likely to outperform day traders. This perspective points to a broader trend of sustained growth rather than quick gains, hinting at a more robust market outlook for the token.

The confidence expressed in the tweet resonates with the technical analysis, suggesting that ARB could recover and move higher, attracting investors looking for long-term opportunities. Moreover, the tweet further reinforces the bullish outlook for ARB, underscoring that a return to prices above $1 might just be a matter of time.