Arbitrum Price Forecast: September 21
ARBUSD price is currently running a bullish race and may surpass the $1.100 high mark as the coin remains stable above the supply levels. The coin price is set for another bull race after a long dip dump by the bears. In case buyers manage to break up the pattern’s resistance trend line at a $1.039 high value, a possible relief rally may drive the coin market price to surpass the $1.100 upper resistance mark. Thus a turnaround and a clear buy signal for the coin buyers.
Key Levels:
Resistance Levels: $1.000, $1.050, $1.100
Support Levels: $0.800, $0.700, $0.600
ARBUSD Long-term Trend: Bullish (4H chart)
ARBUSD is in a bullish momentum in its long-term view. The prices are traded above the moving averages which has confirmed is bullish trend. Bulls are dominant at the present and the bullish rally may surpass the $1.100 high level which could take the crypto to a new resistance level.
The coin made it to the $0.838 high level during the previous action and has made the price remain in green above the supply trend level in its recent high.
The current price of the pair at a $0.850 high level above the two EMAs as the 4-hourly session opens today indicates an uptrend in the context of the strength of the market. This gives room for a more bullish impact on the market at the moment.
However, if the buy traders successfully keep the ARBUSD prices above the $0.998 value, a retest of the previous high at the $1.039 level is possible which would fade off any future bearish thesis.
Hence, there is a tendency for the coin to rise further, if the support level holds, this will enable buyers to take the price up and this may surpass the $1.100 upper high level soon in its long-term perspective.
ARBUSD Medium-term Trend: Bullish (1H chart)
ARBUSD is showing a more bullish impact in its lower time frame. The bulls are having the market at their disposal at the moment. The recent trend is in favor of the bulls and may surpass the $1.100 high mark.
The coin has been made high in recent times due to the sustained bullish move to a $0.828 value in the previous action.
An aggressive move by the long traders to the $0.850 resistance mark above the two EMAs shortly after the 1-hourly chart opens today indicates the high level of buyers in the crypto market. This however makes it possible for the coin to rise further.
Thus, a strong push by the bulls above the current supply would attract more buyers to prevent further decline.
Additionally, trading above the moving averages will enable the market value of Arbitrum to keep pushing up. Therefore, if the bulls should add more aggression to their activities in the market, the $1.100 resistance level might be surpassed soon in its lower time frame.
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