Arbitrum Price Forecast: September 5
ARBUSD price is poised for a potential breakout as it begins to rise toward the resistance trend levels, suggesting buyers are making a recovery attempt. If the current momentum persists and all the current support holds, the bullish correction pattern may extend the coin price to hit the $ 0.637 high mark. Thus, a turnaround and clear buy signal for the coin holders.
Key Levels:
Resistance Levels: $0.500, $0.600, $0.700
Support Levels: $0.350, $0.250, $0.150
ARBUSD Long-term Trend: Bearish (4H chart)
After updating the lows, the Arbitrum price is poised for a potential breakout as it mounts the bullish ladder on the higher time frame. The prices are traded below the moving averages, confirming its bearish trend.
The high order flow from the bears during the previous action also added to its bearishness. However, the coin is about to experience a change in trend as the bulls are about to take over and push us higher.
The ARBUSD price opened lower but trades in green over the past few hours as the 4-hour session begins today. The price is poised for a breakout and finds reliable resistance at the $0.503 mark below the EMA-50, resulting in intraday gains, assuring or confirming the bull’s gradual return to the market.
Hence, should the bulls increase their buying motives, the previous high of $0.637 value might be retested soon.
Additionally, there is likely to be a further increase in the price of Arbitrum as indicated by the daily signal pointing upwards. Thus, the buy traders might push the coin price above the overhead resistance trend line, reaching the $1.000 supply trend line in the coming days, as the crypto is poised for a potential breakout in its higher time frame.
ARBUSD Medium-term Trend: Bearish (1H chart)
The ARBUSD pair is bearish. The coin is poised for a potential breakout while resuming its bullish momentum in its medium-term view. The market price is below the resistance trend line, confirming its bearishness and the high impact of the bears.
The sustained pressure by the sell traders to a $0.498 support level in the past session has dropped the coin price below the supply levels in its recent high.
Today, the Arbitrum price is poised for a potential breakout as it hints at a $0.503 high mark below the EMA-50 as the 1-hour session opens. Thus, if the coin buyers could hold and close the 1-hourly chart above the $0.522 high mark, a potential breakout to the overhead resistance will be possible.
The market price of ARBUSD is also pointing in an upward direction on the daily stochastic, suggesting the possibility of a potential breakout of the coin above the supply level soon and this could reach a high at the $1.000 level in the nearby days as it poised for a potential breakout in its medium-term time frame.
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