Arbitrum Price Forecast: April 18
The ARBUSD price could see a new recovery soon after completing the dip lows. The coin is witnessing a high pressure from the bears but this may end sooner as the market is now oversold. Therefore, if the bulls put on the aggressive buying force the coin price may likely reverse at the $1.091 daily candle and surge above the $2.406 resistance level which may extend the price to a $2.500 resistance level resulting in intraday gains for the buy traders.
Key Levels:
Resistance Levels: $1.300, $1.400, $1.500
Support Levels: $1.090, $1.000, $0.900
ARBUSD Long-term Trend: Bearish (Daily chart)
ARBUSD price could see a new recovery soon as the market price action is very close to the oversold region on the daily chart. The coin price is facing a high selling pressure below the supply levels and confirms a bearish race. Meanwhile, a new recovery could be seen sooner as the selling pressure will soon be exhausted.
The persistent pressure from the short-term traders in the past few days has resulted in its bearishness lately.
At the time of writing this article today, the order flow by the sell traders drops the Arbitrum price to a $1.091 low value below the supply level as the daily chart resumes.
Hence, the crypto could see a new recovery soon if the current support at the $1.091 level could hold and the bulls can wrestle with the bears at the mentioned support. A retest at the $2.406 resistance level is possible soon if this is attained.
In addition, the price of Arbitrum could see a new recovery soon as the coin price now trades very close to the oversold region of the daily stochastic. Price reversal at the mentioned support is crucial. This will enable the bulls to resume the bullish trend and the new recovery may reach the $2.500 upper resistance level in the days ahead in its long-term perspective.
ARBUSD Short-term Trend: Bearish (4H chart)
The market value of ARBUSD could see a new recovery soon as we can see the prices trading below the supply level in the oversold region in its medium-term outlook. This is due to the high impact of sell traders on the price flow.
The sustained pressure from the sell traders at the $1.139 support level in the past few hours has contributed to its bearishness in its recent price level.
The price drop by the short-term traders to the $1.105 support level below the moving averages as the 4-hourly session opens today is a result of low bullish momentum.
However, Arbitrum price could see a new recovery soon if the buy traders can exchange hands with the sell traders at the $1.105 support level, a retest of the previous high at $1.667 level is possible.
Adding to that, the ARBUSD price is already oversold. This means that the coin price could see a new recovery rally to the upside soon and this may reach the $2.500 supply value in the days ahead in the medium-term time frame.
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