Arbitrum Price Forecast: January 30
Arbitrum (ARBUSD) price is pumping up again. The coin price makes a buy-trade setup and also sends a clear bullish signal that the bulls are still strong. If the forces from the buy investors in the market should increase and the coin prices are sustained above the $2.406 resistance levels, the ongoing bullish correction may likely extend and plunge prices to the $2.600 supply level trend line, thus, a buying time for the coin traders.
Key Levels:
Resistance Levels: $1.700, $1.800, $1.900
Support Levels: $1.450, $1.400, $1.350
ARBUSD Long-term Trend: Bullish (Daily chart)
At the time of writing, Arbitrum is trading in an uptrend. The crypto price makes a buy-trade setup above the moving average lines and has confirmed a bullish momentum breaking the previous high at $1.821 value.
After a successful breakout and retest of the major zones, a buy at this pair is inevitable after rejection.
However, the bulls’ pressure to the $1.821 high value in the past few days has sustained the coin price above the resistance trend levels in its recent high.
After completing the lows at $1.772 during yesterday’s session, the bulls made a corrective move to a high at $1.988 level as a pullback above the EMA-50 as the daily chart opens today. This confirms the bulls’ dominance in the market and also makes a buy-trade setup. A buy signal at this crucial time is inevitable for the coin holders.
Similarly, we can also see the momentum indicator pointing up, this means that the ARBUSD price may likely continue its bullish ride; we, therefore, expect the price distribution to hit a $2.600 high mark soon in its long-term perspective.
ARBUSD Medium-term Trend: Bullish (4H chart)
Analyzing the chart below, we can see clearly that ARBUSD’s price makes a buy-trade setup in its medium-term outlook. The price currently trades above the EMA-50 which confirms its bullishness.
The high order flows from the bulls in the past few hours have sustained the crypto price above the trend levels in its recent high.
The coin holders made a ride to the $1.861 supply mark above the moving averages as the 4-hourly session begins today. This, however, will trigger a new bull cycle and a potential buy for the interested buyers.
Adding to this, the price of Arbitrum will continue to make a buy-trade setup as shown by the daily stochastic which is pointing upwards. Hence, if the coin buyers manage to break above the $2.406 supply trend line, the market participants may witness a new rising pattern and this may reach a high at the $2.600 mark soon in its medium-term time frame.
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