Arbitrum Price Forecast: July 18
Arbitrum price is positive again today. The coin price remains in an uptrend at the $1.350 resistance level and might head to the $2.000 resistance level as it is currently running a bullish race and remains stable at the moment. The coin is facing high pressure from the bulls. Further increase in the bulls’ pressure may break up the current price level and this may push the price of the cryptocurrency to the $2.000 upper high level, resulting in a good buy for the coin traders.
Key Levels:
Resistance Levels: $1.650, $1.750, $1.850
Support Levels: $1.450, $1.350, $1.250
ARBUSD Long-term Trend: Bullish (4H chart)
ARBUSD remains bullish on the higher time frames. This is clear as we can see the prices trading firmly above the supply trend levels indicating a strong bullish trend. However, the recent market has favored the bulls.
The coin has been making higher highs and higher lows in previous actions; this has made it possible for the price to maintain an uptrend in recent times.
The coin trading above the moving averages at the $1.350 resistance level above the moving averages as the 4-hourly chart opens today, is an indication of a more bullish impact in the market.
Arbitrum is trading in a “Rising Channel”, making higher highs and higher lows, showing signs of bullishness. This will actually enable the buyers to influence the price tendency.
Further, the price might continue its upward move as shown by the price indicator which is in an upward direction. If the price of Arbitrum is able to break above the $1.350 supply value, then we can expect the coin price to hit the $2.000 upper resistance level soon in its long-term outlook.
ARBUSD Medium-term Trend: Bullish (1H chart)
On the medium-term outlook, the ARBUSD pair also remains in an uptrend. The coin price is traded above the two EMAs. The pair is currently above the level of $1.332.
The bulls increase their pressure and move the market price of the coin up to a $1.333 high level as the 1-hourly chart opens today.
This makes it possible for the coin to remain positive and good for a BUY position. The post-breakout rally may surge the ARBUSD price by 17.5% to hit the previous high at the $1.350 mark.
In addition, the daily stochastic indicates an upward trend, this means that the buy investors may likely continue with the bull run and the target might be the $2.000 resistance level soon in its medium-term outlook.
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