Arbitrum Price Forecast: September 5
ARBUSD is currently running a bullish race and remains positive at the moment. However, the bulls will push higher and the $1.500 high mark could be the target soon if buyers should exert more force into the price action in the market. Thus a turnaround and a clear buy signal for the coin buyers.
Key Levels:
Resistance Levels: $1.050, $1.100, $1.150
Support Levels: $0.095, $0.090, $0.085
ARBUSD Long-term Trend: Bullish (4H chart)
Arbitrum turns positive today. The currency pair’s orientation trades in a general bullish flow. The price bar is seen above the EMA-9 and slightly below the EMA-50 which confirms its bullish growth and with the look of things the bulls will push higher.
The bulls’ pressure on the currency pair to a $0.085 high level in the past few hours has made it possible for the price to remain in an upward trend zone in its recent high.
The buy traders caused a rise to a $0.913 high point which further increased to the $0.918 supply level above the EMA-9 as the 4-hour chart opens today. This affirms the high impact of the buy investors in the market.
However, if the buy traders successfully keep the ARBUSD prices above $1.165, a retest of the previous high at the $1.188 level is possible soon which could replenish the recovery sentiment in Arbitrum.
Hence, the market price is pointing upwards on the daily stochastic; this implies that the price action of ARBUSD is in an uptrend, and in this case, it is pertinent that the bulls will push higher and the next recovery target could be the $1.500 supply level in the coming days in its long-term perspective as we watch the market remains bullish.
ARBUSD Medium-term Trend: Bullish (1H chart)
The coin is in a bullish movement zone in its medium-term outlook. The price bars can be seen trading above the moving averages, as the bulls have decided to push higher and remain in the bullish trend zone.
Buyers, momentum to a $0.900 high level in the previous action has enabled the Arbitrum price to remain in the bullish trend in its recent high value.
ARBUSD market price made a strong bullish move to the $0.912 supply level to gain more strength as the 1-hour chart opens today. This bullish breakout will offer the first signal for potential recovery and provide a higher footing to push the bull rally forward.
Adding to that, the bulls will push higher as indicated by the momentum indicator which is pointing in an upward direction.
Hence, the post-retest rally could drive the Arbitrum price higher to hit the $1.500 supply level soon in its medium-term-term outlook.
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