Arbitrum Price Forecast: November 14
Following the recent upsurge in the crypto world, the ARBUSD price may reach the $1.300 upper resistance level soon as the coin is currently running a bullish race and remains stable at the moment. The coin is probably going to keep rising as we are seeing a bullish correction in place. Amidst the high buying pressure, if the crypto’s price sustains above the $1.222 high level, the potential rally could surge higher to hit $1.300 higher level and beyond, Thus a turnaround and a clear buy signal for the coin buyers.
Key Levels:
Resistance Levels: $1.650, $1.750, $1.850
Support Levels: $1.550, $1.450, $1.350
ARBUSD Long-term Trend: Bullish (Daily chart)
ARBUSD rebounded after its massive drops. The coin is now in the bullish market trend and the price may reach the upper resistance level soon. The market shows that the price may now be trading in a new ascending channel.
The coin made it to the $1.222 high level in the past few days which has made the price remain in green above the supply trend level in its recent high.
As the daily chart resumes today, the Arbitrum price has risen to a $1.153 high level above the EMA-50 as a pullback from buyers. This is because the buy investors are becoming increasingly concerned.
Therefore should the bulls increase their swagger in the market, the price may reach the key resistance level around the $1.222 level resulting in a higher gain for the buy traders.
Likewise, the momentum indicator which is pointing up indicates that the price of ARBUSD is in an uptrend which could possibly remain and may reach the $1.300 supply level and beyond soon in the higher time frame.
ARBUSD Medium-term Trend: Bullish (4H chart)
The market price of ARBUSD is also trading in the bullish market zone and this may reach the upper resistance level soon. This is due to the gradual returns from the buy traders and has confirmed a bullish trend in its medium-term outlook.
Pressure from the bulls at the $1.138 high value in the previous action has sustained its upward stability in its recent high.
Shortly after today’s 4-hour session opened, the bulls staged a correction rally that took them to a high level above the moving average at $1.147. This will enable buyers to influence the price tendency.
Additionally, the price indicator indicates that the Arbitrum price is pointing upward, indicating an uptrend, which suggests that the buying pressure will persist. As a result of that, the bullish race may reach the $1.300 resistance level in the coming days in its medium-term forecast.
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