Arbitrum Price Forecast: July 25
ARBUSD is now facing the positive side. The coin may likely retest the $1.350 supply level soon as it is about to resume its bullish race. The cryptocurrency is trying hard not to fall heavily to the downside. Therefore, if the bulls could trigger their forces in the market, the potential recovery could rise 9.35% and challenge the neckline resistance of $1.350 which could expose the coin price to reach the $1.800 upper high level and beyond. Thus, a turnaround and clear buy signal for the coin holders.
Key Levels:
Resistance Levels: $1.450, $1.550, $1.650
Support Levels: $1.100, $1.050, $1.000
ARBUSD Long-term Trend: Bearish (4H chart)
Arbitrum price is bearish on the higher time frame. This is due to the high impact of sellers. The prices are traded below the moving averages which has confirmed is bearish trend.
The high order flow from the bears during the previous action also added to this bearishness. However, it seems that the bulls are about to take over and push us higher.
The coin is recovering from the recent correction as fresh buying emerges near the supply level following the upward race.
The cryptocurrency having completed the dip-lows responded to the shift in the trend and increased to the $1.241 supply mark below the two EMAs as a pullback shortly after the commencement of the 4-hourly chart today. Thus, a potential breakout from this trend line could intensify the bullish momentum and may surge the price of ARBUSD above the$1.350 previous high.
Having said that, if the bullish momentum persists, a breakout above this combined resistance with candle closing may push the price of Arbitrum to the $1.800 upper resistance value in the days ahead which will signal a strong buy signal for interested traders in its higher timeframe.
ARBUSD Medium-term Trend: Bullish (1H chart)
The ARBUSD pair remains in the bullish market zone in its medium-term view. The market price staying above the resistance trend line confirms its bullishness and the high impact of the bulls.
The bulls’ pressure on the currency pair in the past few hours has made it possible for the price to remain in an upward trend zone in its recent price level.
The momentum remains in an uptrend despite the push from the short traders, the bulls made a touch at the $1.238 high mark above the EMA-9 as the 1-hourly chart resumes today. This trend pattern proves the impact of bullishness on crypto.
In addition, the momentum indicator shows that the price of ARBUSD will still bounce up, so we expect the price distribution to reach the $1.800 supply level and beyond in the coming days in its medium-term-term outlook.
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