Arbitrum Price Forecast: September 7
ARBUSD is very likely to complete its low-dips movement as usual and the coin could be getting ready for an uphill trend soon. If the buy investors could prove stronger and put the support values on hold, the coin price may turn upside to hit the $1.187 previous high which could further lead the crypto price to a $1.500 high level and beyond, resulting in a greater profit for the coin holders.
Key Levels:
Resistance Levels: $1.000, $1.050, $1.100
Support Levels: $0.099, $0.098, $0.097
ARBUSD Long-term Trend: Bearish (4H chart)
The Arbitrum price is forming lower lows and lower highs on its long-term chart. Further, the price is trading below the two EMAs; which means that it’s in a bearish market zone at the moment. However, the trend is about to resume its uphill trend soon as the coin market is oversold already.
Moreover, the sell traders’ failure to offer a follow-up to the breakdown candle also adds to some weakness in bearish momentum in its recent low.
Meanwhile, the current price at a $0.888 low value below the supply trend lines has not stale the market condition of the coin. Further, investors may seize the opportunity now and buy the coin at a lower price, and look for more gains ahead.
Meanwhile, further downsides are unlikely as the market price of ARBUSD has reached the oversold region. The coin will resume an uptrend soon, so we can now grow in confidence that a potential buy is coming near.
Hence, the uphill trend could hit the $1.500 resistance level in the coming days, indicating a strong supply zone for a potential BUY in its higher time frame.
ARBUSD Medium-term Trend: Bearish (1H chart)
Arbitrum price also portrays a bearish market trend in its medium-term outlook. The price responded to the shift in the market structure and is currently below the moving averages. Thus, crypto is about to embark on an uphill trend as we can see a new correction in place.
The market has been slowed down due to the interaction from the bears to the $0.887 low value in the previous action.
The market price of ARBUSD which increases to a $0.890 high level below the two moving averages as the 1-hourly session opens today suggests the return of the bulls to the market and an improved bullish market sentiment. Thus, closing the 1-hourly session above the $0.978 supply level will put the trade more on the buy side.
Adding to that, the pair is pointing upwards at around the 13% range of the daily stochastic. It indicates that the Arbitrum price is now in the oversold region of the market and the selling pressure has ended.
We will now be looking into the emergence of buyers in the oversold region of the market. This crossover could encourage the uphill trend to hit the$1.500 supply level soon in its medium-term time frame.
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