Arbitrum Price Forecast: March 7
The ARBUSD buying time is now as the cryptocurrency is currently running a bullish race facing high pressure from the bulls. The coin may likely grow more and be an opportunity for long-term investors. Having finished the bearish moves, if the coin prices sustain above the level of $2.406, the bulls’ trend would continue upward and may hit the $2.500 upper high level, resulting in a buying opportunity for the coin investors.
Key Levels:
Resistance Levels: $2.000, $2.050, $2.150
Support Levels: $1.400, $1.350, $1.300
ARBUSD Long-term Trend: Bullish (Daily chart)
ARBUSD buying time is now as the coin price is in a bullish market zone in its higher time frame as can be seen from the chart below. The prices are traded above the moving averages which has confirmed is bullish trend.
The bulls’ high pressure on the coin to $2.200 in the past few days has sustained the price action for its buying time above the supply levels in its recent high.
The crypto’s price rises to a $2.180 supply level above the EMA-50 after the recent threat of increasing as the daily chart opens today. This means the bulls are buying the asset at this level and suggests Arbitrum’s buying time is now. Hence, should the bulls increase their buying motives, the previous high of $2.406 value might be retested soon.
In addition, the market is pointing up on the daily stochastic; this will prolong the buying time of Arbitrum and quicken the emergence of more buyers to move the price up to a significant level at the upside and this might hit the $2.500 supply trend mark soon as the daily chart suggests its buying time is now in its higher time frame.
ARBUSD Medium-term Trend: Bullish (4H chart)
On the 4-hourly chart, Arbitrum price also suggests its buying time is now as we can see prices traded above the moving averages and have confirmed a bullish momentum breaking the previous high. The pair is in a smooth uptrend as can be seen from the chart below.
The increase in the momentum by the bulls at the $2.016 supply value during the past action has enabled the Arbitrum price to stay strong above the resistance lines and suggests a buying time in its recent high.
ARBUSD reaches its buying time as it rises to a $2.122 high level above the moving averages as the 4-hourly chart begins today. This is due to a high bullish impact on the market price.
Therefore, if the bulls should increase their buying action, the potential rally could retest the previous high at the $2.180 level resulting in an impressive gain for the coin buyers.
Similarly, the coin price is showing more upside possibility as indicated by the momentum indicator pointing up; we can certainly expect more gains and strength from the coin. The pair may likely reach the $2.500 resistance level soon as the Arbitrum price reaches its buying time in its medium time frame.
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