Arbitrum Price Forecast: August 10
ARBUSD correction phase may extend to a $2.000 price level and it is very likely to continue growing as we are seeing a bullish correction in place. The coin gave a bullish breakout from a $1.139 high level, suggesting buyers are making a recovery attempt. Thus, if Arbitrum’s price sustains above the mentioned peak value, the potential rally could surge higher to hit the $2.000 supply trend line and beyond.
Key Levels:
Resistance Levels: $1.450, $1.550, $1.650
Support Levels: $1.150, $1.100, $1.050
ARBUSD Long-term Trend: Bullish (4H chart)
The market price of ARBUSD is currently trading in the bullish market zone. This is due to the gradual returns of the buy traders to the market.
Actions of the buying crew at a $1.133 high value on the currency pair in the past few hours have made it possible for the price to remain in an upward trend zone in its recent high.
Hence, after completing the lows, the coin price has moved up to a $1.139 high level above the EMA-9 as a pullback from the buy traders as the 4-hourly chart resumes today. This is a result of more concerns from the buy investors.
Thus, with sustained buying, the Arbirum price could rise another 50% to reach the previous high value of $1.350 which would offset any bearish intentions.
Hence, staying above the supply levels indicates a strong possibility for a bullish correction.
A strong break-up above the $1.350 resistance point would strengthen the bullish pressure and the ARBUSD correction phase may extend to a $2.00 price level in the coming days in its higher time outlook.
ARBUSD Medium-term Trend: Bullish (1H chart)
The coin also trades in a bullish trend market in the medium-term outlook. The coin prices are traded above the moving averages which are glued together. This is due to the high impact of long-term traders on the price flow. 
Sustained pressure from the long traders to a $1.133 high level in the previous action has led the ARBUSD price above the supply levels in recent times.
Buyers caused a rise to the $1.139 resistance level above the two EMAs shortly after the 1-hourly chart opened today. This indicates that the long traders are actively buying at this level to return fully into the market and are also ready to move the coin price further upward.
Thus, a break above the $1.195 previous supply mark will put further selling pressure into hibernation.
Similarly, the market is pointing up on the daily signal; this will quicken the emergence of more buyers to move the Arbitrum price up to a significant level at the upside, in light of this, the correction phase may extend to the $2.000 level as the ARBUSD market turn bullish soon in its medium-term perspective.
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