Arbitrum Price Forecast: May 23
ARBUSD price initiates another uptrend as it is currently facing high bullish pressure and remains stable at the moment. The trading volume has increased substantially by 21%, with the bulls struggling to maintain momentum. The crypto price will most likely continue its bullish run and could still go higher if the price can further break up the $ 2.406 level, then we can expect a good upside momentum up to the $2.500 supply value, indicating a strong market interest and activity.
Key Levels:
Resistance Levels: $1.100, $1.150, $1.200
Support Levels: $0.800, $0.700, $0.600
ARBUSD Long-term Trend: Bullish (Daily Chart)
The recent surge in the ARBUSD market has made it initiate another uptrend and remain bullish in its long-term view. The price bar can be seen slightly above the moving average which has confirmed its bullish trend. It seems that the bulls are about to take over and push us higher.
The coin made it to the $1.127 high level during yesterday’s session and has made the price initiate another uptrend above the supply trend level in its recent high.
As the daily session begins today, the bulls initiate another uptrend by pushing the Arbitrum price to a $1.229 high mark above the supply level. Hence, the buying pressure on the cryptocurrency would increase if the price broke above the $2.406 previous resistance level. Further, continuation to the upsides is likely as the price indicator projects an upward move.
This implies that the bullish trend will most probably continue and the initiated uptrend pattern might hit the $2.500 resistance trend line soon as the coin buyers initiate another uptrend in its long-term view.
ARBUSD Medium-term Trend: Bullish (4H Chart)
Arbitrum price also initiates another uptrend in its medium-term outlook. The coin price is trading in a strong bullish momentum approaching the upper resistance level. This is due to the high impact of the long-term traders on the price flow. 
The coin has seen a significant rise in the last few hours and has made the coin price initiate another uptrend above the supply level lately.
The bulls initiate a strong uptrend to the $1.229 high mark above the resistance levels as the 4-hour chart opens today. This indicates that the buy investors are dealing in the coin investment.
Therefore, if the bulls could increase their tension in the market, the price tendency will hint at the upper higher level, indicating a strong market interest among the coin buyers.
Meanwhile, buyers are seen clustered around the market as indicated by the momentum indicator pointing upwards, which means that buyers will still be in control of the Arbitrum price, and this bullish rally could lead the price to the $2.500 resistance level soon as it initiates another uptrend in its medium-term view.
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