Arbitrum Price Forecast: September 28
ARBUSD is now on its way to the overhead trend levels and looks good for buyers at the $0.821 resistance value. Judging from the current chart, should the bulls push higher and close above the $0.996 high mark, a bullish breakout confirmation will reflect the improved market sentiment and this might push the coin price to the $1.000 upper supply trend level.
Key Levels:
Resistance Levels: $0.900, $0.950, $1.000
Support Levels: $0.700, $0.600, $0.500
ARBUSD Long-term Trend: Bullish (4H chart)
On the higher-term time frame, the ARBUSD remains bullish. This is clear as we can see the prices trading above the EMA-9, breaking the previous high of $0.818 value as it resumes its uphill trend. This makes the crypto look good for a buyer at the current trend level.
The high order flow of buyers to a $0.815 high mark during the previous action also added to this bullishness.
The coin price on the 4-hour chart today is currently facing resistance and trading at the $0.821 correction level. Further, the rising prices reclaimed more confirmation for a bullish recovery. Hence, staying above the EMA-9 indicates a strong possibility for a bullish correction.
Thus, if buyers could increase their focus in the market, there is a high probability of the price going up to its recent swing high, which is $0.996 level to wade off any further bearish shackles.
Notably, the market price of Arbitrum is pointing up on the daily stochastic, this means that the selling pressure has reached an exhaustion, and the expected upside move in the price could be high at $1.000 value sooner in its long-term outlook.
ARBUSD Medium-term Trend: Bullish (1H chart)
The ARBUSD pair looks good for buyers while trading in a bullish market in its medium-term outlook. This is due to the high influence of the buy traders.
The coin was able to reach a high of $0.807 level in the previous action which has made it possible for the coin to remain above the supply levels in its recent high.
The Arbitrum price finds a reliable resistance at around the $0.821 mark above the EMAs, resulting in intraday gains as the 4-hourly session resumes today.
Therefore, if the bulls increase their tension in the market, the price tendency will move above the key levels to its previous high of $0.900 which will improve the recovery sentiment on the crypto market.
Adding to this, the ARBUSD looks good for buyers as the price remains in an upward direction on the daily signal. As a result of that, the coin price might swing up to a $1.000 supply mark soon in the medium-term outlook.
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