Arbitrum Price Forecast: December 28
The ARBUSD buyers may likely push up to the upper high mark and rise further if they do not give up and increase their market momentum pressure. If buyers manage to break through the pattern’s resistance trend line at the $1.467 high value, a possible relief rally may push up the coin market price to the $1.500 upper resistance mark and beyond, signaling a positive turn for coin holders.
Key Levels:
Resistance Levels: $1.250, $1.350, $1.450
Support Levels: $1.150, $1.050, $1.000
ARBUSD Long-term Trend: Bullish (4H chart)
Arbitrum buyers aim to push up to the upper high mark as the coin price remains bullish on the higher time frame. The price bar can be seen above the moving averages, this is due to the high impact from buyers.
The bulls’ high order flow to a $1.289 high mark during yesterday’s session has contributed to this bullishness. However, the bulls are now poised to push up the coin price even higher to the upper resistance zone.
As the 4-hour session begins today, the ARBUSD’s current price at the $1.312 high level above the EMA-50 indicates an uptrend in the context of the market’s strength. This allows for a more bullish impact on the market right now.
Long-term traders can profit from the short bullish push-up above the resistance, but the price of ARBUSD soon be dependent on the range breakout.
Furthermore, there is a tendency for the Arbitrum buyers to push further if the support level holds, allowing buyers to push the crypto price up to a high of $1.500 level soon in the higher time frame.
ARBUSD Medium-term Trend: Bearish (1H chart)
ARBUSD is bearish in its medium-term outlook. The price responded to the shift in the market structure and is currently trading below the moving average.
However, the coin buyers are about to push up the price to the upper high mark as a new correction can be seen below the supply levels.
The crypto price has been below the supply trend levels since its most recent low due to the persistent bearish pressure in the past few hours. However, this will soon be invalidated as the coin buyers have just resumed their rising pattern to push up the coin price.
As the 1-hour chart opens today, the bulls pushed up the Arbitrum price to the $1.312 supply level below the EMA-50 as a pullback showing a 2.29% gain for the day. The coin’s price has attempted to break out of a long-term trend line with an intense buying force.
A potential bullish push-up above the previous high of $1.457 level will therefore project a buy signal for interested traders.
The market price of ARBUSD indicates that more pushups are certain by pointing up on the daily stochastic; this means that the momentum in the coin price will likely remain and continue in an upward move. We can now expect the next push-up by the bulls to reach a $1.500 upper resistance level in the days ahead in its lower time frame.
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