Arbitrum Price Forecast: April 23
ARBUSD is at the moment climbing the next bullish ladder and a breakout is imminent. The crypto is very likely to increase in strength as we are seeing a bullish correction in place. The coin gave a bullish breakout from the $1.221 level, suggesting buyers are bringing a positive sentiment to the market. Thus, if the crypto’s price sustains above a $2.406 high level, the potential rally could reach the $2.500 supply value and beyond, bolstering buyers for a prolonged recovery.
Key Levels:
Resistance Levels: $1.000, $1.100, $1.200
Support Levels: $0.900, $0.800, $0.700
ARBUSD Long-term Trend: Bearish (Daily chart)
The ARBUSD pair is climbing the next bullish ladder and indicates a downward trend with a bearish sentiment in its long-term perspective. Prices can be seen below the EMA which indicates a bearish trend.
This is due to a high inflow of the sell traders. However, the market is presently facing resistance at the recent high, climbing the next bullish ladder.
Actions from the short traders at a $1.171 low value during yesterday’s session have dropped the Arbitrum price beneath the supply trend lines in recent times.
Price movement to a $1.221 high level below the moving average line as the daily chart commences today is a pullback that will enable the bulls’ recovery to foster a higher price resulting in an intraday gain for buyers as the bulls are climbing the next bullish ladder.
ARBUSD Medium-term Trend: Bullish (4H chart)
Upward pressure now dominates the ARBUSD pair as the price is climbing the next bullish ladder on the medium-term outlook. The coin price is now trading above the moving averages with huge volumes from the bulls. 
The bulls’ high pressure on the currency pair in the past few hours has made it possible for the price to remain in an upward trend zone in its recent high.
Shortly after the commencement of the 4-hourly chart today, the bulls corrected the $2.221 supply value above the moving averages, resulting in an intraday gain for the coin buyers.
Thus, a possible breakout from the current retracement at the $1.221 neckline will accelerate the buying momentum and push the prices higher to hit the $1.667 previous resistance level as buyers continue climbing the next bullish ladder.
Additionally, the pair pointing up on the daily stochastic means that the buying pressure may continue, and suggests a possible recovery of the $2.500 supply level in the coming days as buyers continue climbing the next bullish ladder in the medium time frame.
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