Arbitrum Price Forecast: April 2
The ARBUSD pair may likely bounce off the support line and break up the resistance level at the $2.406 soon. Thus, a sharp breakout and closure above the $2.406 correction phase will invalidate any bearish thesis and the price might hit the high of $2.500 upper level and beyond.
Key Levels:
Resistance Levels: $1.400, $1.500, $1.600
Support Levels: $1.250, $1.150, $1.050
ARBUSD Long-term Trend: Bearish (Daily chart)
Arbitrum is bearish in its long-term outlook. Hence, the price may bounce off the support line as soon as it approaches the oversold region of the market. The price responded to the shift in the market structure and is currently trading below the moving averages. 
The crypto price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
The price drop to the $1.555 low value below the EMA-50 as the daily chart opens today is a result of low bullish momentum. Meanwhile, the price of ARBUSD may bounce off the support level and turn upside down soon if the bulls could add more potential to their buying swagger in the market.
Adding to that, the coin price now approaches the oversold region. The coin will soon bounce off the support level and resume an uptrend, so we can now grow in confidence that a potential buy is coming near. If this is achieved, a $2.500 high value might be the target in the coming days in its long-term outlook.
ARBUSD Medium-term Trend: Bearish (4H chart)
The momentum on the medium-term outlook looks bearish but it is starting to turn bullish as can be seen from the chart now. 
The price of ARBUSD may bounce off the support line soon as we can see a new correction phase taking place currently below the resistance close to the EMA-50. So it seems likely that the bulls are about to take over and push us higher.
Despite the interactions from the short traders, the bulls made a pullback to a $1.608 high level below the EMA-50 shortly after the commencement of the 4-hourly chart opens today.
Thus, buyers need to add more pressure to their activities to bounce off the support level and move the market beyond the current price level to hit the $2.256 level.
In addition, the momentum indicator shows that the price of ARBUSD will still bounce up from the support level, so we expect the price distribution to reach the $2.500 supply level and beyond in the coming days in its medium-term outlook.
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