Arbitrum Price Forecast: November 16
ARBUSD at the moment is preparing for the next jump. The coin price will exceed the critical level soon if all the current support holds and the bulls should trigger their efforts and break up the $1.222 previous resistance trend line, the bullish correction pattern may extend the coin price to hit the $1.250 upper high mark. Thus, a turnaround and clear buy signal for the coin holders.
Key Levels:
Resistance Levels: $1.000, $1.100, $1.200
Support Levels: $0.800, $0.700, $0.600
ARBUSD Long-term Trend: Bearish (4H chart)
Although there appears to have been a slight pullback in the price of ARBUSD, the long-term outlook remains negative. In addition, the price is currently trading below the EMA and may likely exceed the critical level soon as the bulls are around to turn the potential positive.
The high order flow from the bears during the previous action also added to this bearishness. However, it seems that the bulls are about to take the coin price above the critical level at the upside.
Shortly after the 4-hour session opened today, the bulls pulled back, rising to a $1.113 high level below the EMA-50, confirming the returns of the long traders in the market. Thus, if the bulls can step up their efforts and exceed the critical level at the $1.222 supply level, the price of Arbitrum is expected to rise even higher.
Meanwhile, further downsides are unlikely as the market price of ARBUSD suggests an uptrend on the daily signal. Therefore, we can now grow in confidence that a potential buy is coming near.
In light of this, the price jump could hit and exceed the critical level of $1.250 soon, indicating a strong supply zone for a potential BUY in its higher time frame.
ARBUSD Medium-term Trend: Bearish (1H chart)
The coin buyers also indicate that the price of Arbitrum will exceed the critical level soon by turning up at the support level in its medium-term outlook. This means that the crypto price is in a bearish trend at the moment. 
The sell traders made a downward move to the $1.036 support level before the end of yesterday’s session. This has contributed to the coin price staying below the supply trend lines in recent times.
The market price of ARBUSD which increases to a $1.102 high level below the moving average as the 1-hourly session opens today suggests the return of the bulls to the market and an improved bullish market sentiment.
Thus, if the coin buyers can hold and exceed the critical level at $1.222 previous high barrier and close a candle, a potential BUY signal will be attained.
The market price of ARBUSD is also pointing in an upward direction on the daily stochastic, this suggests that the coin market price will continue in a positive move and this could exceed the critical level of $1.250 in the nearby days in its medium-term time frame.
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