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HomeForex 2023Arbitrum (ARBUSD) Price to Break Up at $1.426 Level

Arbitrum (ARBUSD) Price to Break Up at $1.426 Level


Arbitrum (ARBUSD) Price Forecast: June 2
ARBUSD price may possibly resume an uptrend to break up the $1.426 supply level soon. A decisive break below $1.138 would bring more losses to the coin. However, a daily candlestick above the mentioned supply level would invalidate any bearish theory. Therefore, if buyers can put more effort into their tension in the market, a shift in the trend upward will be achieved.

Key Levels:
Resistance Levels: $1.400, $1.500, $1.600
Support Levels: $0.250, $0.200, $0.150

ARB (USD) Long-term Trend: Bearish (4H Chart)
Arbitrum is bearish in its long-term outlook. The price responded to the shift in the market structure and is currently trading below the moving averages.
Arbitrum (ARBUSD) Price to Break Up at $1.426 Level
The cryptocurrency price has been below the supply trend levels since it’s most recent low due to the persistent bearish pressure over the last few hours.

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The bears dropped the coin price to a low of $1.138 low value below the moving averages as the 4-hourly chart opens today. However, long traders can join the market or invest in the crypto with the current trend and buy at a lower rate for more gains in the future. This will reflect an increase in the trend momentum.

Should the bulls change their orientation and exchange hands with the sell traders at the $1.138 low value, the coin price might turn up from the mentioned support and jump above the $1.426 supply mark, thus, the bearish thesis would get invalidated.

Meanwhile, further downsides are unlikely as the market price of ARBUSD has reached the oversold region. The coin will resume an uptrend soon, so we can now grow in confidence that a potential buyer is coming near.

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The price jump could hit the the$2.000 resistance level in the days ahead, indicating a strong supply zone for a potential BUY in its higher time frame.

ARB (USD) Medium-term Trend: Bearish (1H Chart)
The ARBUSD pair is in a bearish movement zone in its short-term outlook. This is due to the inflow from sellers. Further, the price is trading below the supply trend levels indicating a bearish trend.
Arbitrum (ARBUSD) Price to Break Up at $1.426 Level
The crypto has been interfering with the sell traders in the previous action and has dropped the price to a low $1.228 value.

The price drop to the $1.147 support value below the two EMAs as the 1-hourly session resumes today, is a result of low bullish momentum. Thus, traders who buy the coin during the bearish market will also make gains in the future.

Hence, should the bulls exchange hands with the sell traders and close above the $1.281 resistance value, additional intraday gains would be recorded for the buy investors.

The pair is pointing upwards at around the 3% range of the daily stochastic. It indicates that the Arbitrum price is now in the oversold region of the market. It implies that the selling pressure may likely end soon.

We will now be looking into the emergence of buyers in the oversold region of the market. This crossover could encourage the breakout rally to hit the the$2.000 supply level in the coming days in its medium-term outlook.

Buy Arbitrum on eToro

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