Arbitrum Price Forecast: July 23
Today, ARBUSD bulls regain control as buying pressure mounts, signaling strong investor interest and market confidence. The trading volume for the crypto has risen sharply by 1.31% in the last 24 hours. The recent market structure points to a rise shortly. Therefore, if the current support at $0.741 holds and the bulls put in more aggressive efforts, the price may reach a $2.256 high level, resulting in an additional bonus for the coin buyers.
Key Levels:
Resistance Levels: $0.800, $0.900, $1.000
Support Levels: $0.600, $0.500, $0.400
ARBUSD Long-term Trend: Bearish (Daily chart)
ARBUSD bulls regain control as buying pressure mounts slightly in its higher time frame. The coin price is facing resistance with a bullish sentiment, indicating a bearish momentum. 
The bears’ pressure at the $0.741 support value in the past few days has contributed to the coin’s bearishness in its recent price level.
Today, the bulls regained control as buying pressure mounted to a $0.792 high mark below the EMA-50 as the daily chart resumed, signaling a possible market turnaround.
Should buyers increase their buying forces in the market, the Arbitrum price might rise further to its most recent swing high at the $2.256 high point, as buying pressure mounts.
Additionally, the market is pointing upwards on the daily stochastic, this will quicken the emergence of more buyers to move the coin price higher. As a result, the price of ARBUSD could rise more to hit the $2.256 upper high level in the coming days, as the bulls regain control while the buying pressure mounts in its higher time frame.
ARBUSD Medium-term Trend: Bullish (4H chart)
It could be seen that the ARBUSD bulls have regained control as buying pressure mounts on the medium-term outlook. The price currently trades above the EMA-50, suggesting a bullish momentum.
Hence, the bulls are in control as the buying pressure mounts. There are multiple possible targets at this point, but either way, the pair looks quite bullish here.
The bulls’ pressure on the crypto at the $0.780 supply mark in the past few hours has made it possible for the bulls to regain control and sustain its bullishness in its recent high.
At the press time, the impulse moves from the buy traders pushed the price of Arbitrum to a $0.792 high level above the moving average-50 shortly after the 4-hour session opens today, indicating an upward momentum as the bulls regain control.
Thus, a possible breakout from the $0.792 neckline will accelerate the buying momentum and push the prices higher to hit the$0.846 previous resistance levels as the buying pressure mounts, bolstering more buying pressure on the crypto to the upper resistance levels.
Furthermore, the pair indicates an uptrend on the daily signal, which means that the ARBUSD bulls may continue to regain control and mount buying pressure. In light of this, the coin price is expected to reach the $2.256 upper resistance value soon in its medium-term outlook.
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