Arbitrum Price Forecast: August 1
The Arbitrum price is likely to grow more and could break up at the $0.828 level, resulting in an opportunity to go long for the coin investors. Having finished the downward correction, the crypto might likely continue its upside move if the current support at $0.699 value holds, and the 4-hourly chart closes above the $0.784 resistance level, then there is a high probability of the price going up to its recent swing high of $0.828 resistance trend line, resulting to a good entry point for the coin buyers.
Key Levels:
Resistance Levels: $0.800, $0.900, $1.000
Support Levels: $0.600, $0.500, $0.400
ARBUSD Long-term Trend: Bearish (4H chart)
The ARBUSD pair could break up at the previous $0.828 high level as the new correction phase has just started in its long-term perspective. As can be seen from the chart, bullish momentum is accumulating on the pair right now and could also grow more.
The cryptocurrency price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
As a result of price rejection today, the Arbitrum price pulled back to a $0.702 high level below the EMA-50 as the 4-hourly session opens today, resulting in intraday gains for the coin buyers.
Hence, the crypto is likely to grow more and could break up at a $0.828 resistance pattern, if the bulls could add more aggression to their buying forces.
Similarly, the momentum indicator pointing upwards in the oversold region suggests the continuation of the bullish trend. Thus, the price of Arbitrum might grow more to break up at the $0.828 level and expose to the $1.000 supply value in the coming days in its long-term outlook.
ARBUSD Short-term Trend: Bearish (1H chart)
The Arbitrum price is bearish, but it is starting to turn bullish and could break up at its previous high mark soon, as seen from the chart below. Further, the price is below the EMA-50, implying a bearish momentum. 
Meanwhile, a change is about to occur, as the trend has just resumed its bullish pattern and could break up at the $0.803 level as the up-north journey continues.
The price drop to a $0.697 low value by the short traders during the previous action has made the coin price trade below the supply levels in its recent high.
At the time of writing today, the ARBUSD price turned to $0. 702 supply mark shortly after the 1-hourly chart opens today as a pullback by the bulls to begin the bullish rally.
Thus, if the bulls can put extra effort into the buying process, the crypto price could break up at the $0.803 level; as a result, further selling pressure will be put into hibernation.
Furthermore, the daily stochastic signals an uptrend, if the bulls could push harder and sustain the coin price above the $0.803 previous high, the resulting rally may push the crypto price to grow more and break up at $0.828 level to hit the $1.000 psychological level at the upside in the days ahead in its short-term perspective.
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