Arbitrum Price Forecast: November 7
ARBUSD‘s price is currently in an ascending channel and remains bullish above the supply levels. The crypto is showing positive signs above the $1.092 supply value. If the coin holders could prove stronger and the price shows sustainability above the $1.350 previous high value, its, upside moves could extend further to reach a $1.400 high level and beyond. Thus a turnaround and a clear buy signal for the coin buyers.
Key Levels:
Resistance Levels: $1.000, $1.050, $1.100
Support Levels: $0.800, $0.750, $0.700
ARBUSD Long-term Trend: Bullish (Daily chart)
The ARBUSD pair remains bullish in its long-term perspective. The price bars are seen above the EMAs and this confirms the high bullish impacts on the market at the present. 
The buy investors’ jump to the $1.098 supply value above the EMA-50 during the previous action has really enabled the crypto to remain strong above the trend line in its recent high.
The momentum continues today as the bulls made a corrective move to a high at $1.107 mark above the EMA-50 as the daily chart opens today. This shows the high impact of the buy investors on the Arbitrum market; likewise, the downside risk remained uncertain.
Hence, should the bulls increase their buying motives, the previous high of $1.305 value might be retested soon.
Furthermore, the market is trending upward and remains bullish on the daily stochastic, this will accelerate the emergence of additional buyers and push the price higher to a major level on the upside.
The $1.400 upper resistance level might be reached soon as the coin remains bullish in its higher time frame.
ARBUSD Medium-term Trend: Bullish (4H chart)
Despite the interference of short-term traders in the price flow, the Arbitrum market remains bullish on the medium-term time frame.
The coin price can now be seen progressing upward above the EMA-50. This shows that buyers are currently gaining more strength in the market.
The bulls’ pressure to the $1.098 high level during the previous action has made the price remain bullish above the supply trend level in its recent high.
As of the time of writing this article, the bulls made an upward move to the $1.101 high value above the EMA-50 as the 4-hour chart opens. The ARBUSD price looks promising as the bulls remain dominant in the market at the moment. If the bulls should increase their price action, and bullish momentum is sustained far above the resistance trend lines, further bearish sentiment will be hibernated.
Additionally, the daily stochastic remains in an upward direction. Hence, if the coin buyers manage to break above the $1.119 previous supply trend line, the market participants may witness a new recovery rally and this may likely reach the $1.400 high mark in the days ahead in its medium-term frame.
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