Decoding, What's Next To Come In ARB Price In 2024?

20 Sep

ARB's price peaked in Q1 2024 after finding support in Q4 2023. Despite multiple attempts to rise in Q1, supply pressures dominated. The peak of $2.4072 led to a continuous decline through Q2 and Q3 2024, reaching a low of $0.4286 by August 5th, 2024.

However, the price stabilized and didn't fall further. In the short term, Q3's price action formed a bullish descending triangle pattern, which recently broke out due to market optimism.

ARB's price prediction highlights that in the short-term it could move towards the 200-day EMA, supported by the 20-day and 50-day EMAs. Short-term targets are $0.6500 and $0.8800.

If the price sustains above the 200-day EMA and surpasses these short-term targets, a long-term bullish trend could develop, aiming for $1.25, $1.55, and $1.90.

On the contrary, if short-term targets are not met, the price may consolidate or turn bearish. Monitoring the change of character phenomenon is crucial to build confidence. Investors should avoid FOMO and conduct their own research (DYOR).