Arbitrum Price Forecast: May 2
ARBUSD is now on its way to the resistance trend levels. The price is negotiating the $2.406 high level due to renewed buying motives. If the buy traders could push higher and the price sustains above the $2.200 supply level, then there is a higher chance that the coin price will challenge the $2.406 previous high barrier leading to a higher recovery for the coin buyers.
Key Levels:
Resistance Levels: $1.000, $1.050, $1.100
Support Levels: $0.700, $0.600, $0.500
ARBUSD Long-term Trend: Bearish (Daily chart)
ARBUSD price is negotiating the resistance level as the bulls establish a solid base below the moving averages in its long-term view. The prices are traded below the moving average, confirming its bearish trend.
The high bearish impact on the crypto at the $0.968 support level in the previous action has contributed to its bearishness in its recent price level.
The bulls made a pullback to a $1.031 high point negotiating the resistance level as the daily chart resumes today. This indicates that buyers are actively buying at this level and this may push the coin price higher soon.
However, the current price rejection at $1.031 is an indication that the buy traders have resumed to continue the upward move.
Furthermore, the Arbitrum price may go ahead with its bullish trend as shown by the daily signal which remains in an uptrend in the oversold region; this may push the crypto price up to a $2.406 previous high and beyond soon as it negotiates the resistance area in its higher time frame.
ARBUSD Medium-term Trend: Bearish (4H chart)
The momentum on the medium-term chart shows that the ARBUSD price is negotiating the resistance level by showing a new rising pattern below the moving average. This is as a result of the short traders’ activities in the market. 
The bears’ pressure on the coin to the $0.968 support value during the past session has sustained the coin price below the resistance trend levels in its recent high.
The bulls established a solid base with a bullish candle at the $1.032 resistance level below the EMA-50 negotiating the resistance levels shortly after the 4-hour chart opens today. This however makes it possible for the coin to rise further.
More upside is likely as the momentum indicator points upwards indicating that the price of
Arbitrum may continue negotiating the resistance level till it reaches the highest level. With this current momentum, the market price of ARBUSD may hit the $2.406 previous high and beyond as soon as the coin price negotiates the resistance zone in its medium-term outlook.
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