Arbitrum Price Forecast: July 30
ARBUSD price reversal could hit the crucial resistance level, allowing buyers to recuperate before the next trend. The recent jump below the supply levels hints at a $0.723 value as an early sign of trend reversal. Hence, as the coin buyers set to face the resistance, an increase in the bulls’ pressure may break the $2.190 supply value and swing the crypto’s price to hit the $2.200 upper resistance levels, resulting in an intraday gain for interested traders.
Key Levels:
Resistance Levels: $0.800, $0.900, $1.000
Support Levels: $0.600, $0.500, $0.400
ARBUSD Long-term Trend: Bearish (Daily chart)
ARBUSD price is on its way to the resistance level. Its price reversal could hit the previous supply level as the bulls are determined this time around on the higher time frame. The coin price is below the EMA-50, indicating a bearish trend.
The recent market has been slowed down due to the interaction from the bears to the $0.708 support value in the previous action. However, the current trend will soon be over as the crypto suggests a potential reversal, which could hit its previous high level.
As the daily session gets underway today, the bulls pulled back to the high point of $0.723, below the EMA-50, suggesting that the buy traders are back to stage a play in the market and the price reversal could surge to hit the $2.190 resistance value, bolstering buyers for higher recovery.
Similarly, the Arbitrum price may likely continue its journey up to the new resistance trend levels as indicated by the daily stochastic pointing upwards in the oversold region of the daily signal. It means that the selling pressure is exhausted.
Thus, the price reversal could hit the $2.190 previous high mark and extend to the $2.200 upper resistance level in the upcoming days in its higher time frame.
ARBUSD Medium-term Trend: Bearish (4H chart)
The medium-term outlook for the Arbitrum pair is bearish. The coin price has just begun its bullish trend and its price reversal could hit the previous high level, suggesting buyers’ high interest in the crypto. The price is facing the resistance level, indicating a bearish momentum.
Nonetheless, the bears’ participation in the $0.712 support value in the previous action has made the price of ARBUSD trade below the resistance trend levels in its recent high.
The smooth ride to the $0.723 high mark below the moving averages shortly after the 4-hourly session begins today indicates the gradual returns of the bulls and the high impacts of the bulls in the market.
Further, if the bulls prove stronger and additional selling power is prevented, the coin price reversal could hit the $0.826 previous barrier level, signaling an uptrend continuation.
In addition, there is a possibility of a bullish breakout as the market price of ARBUSD is in an uptrend. Therefore, the bulls are expected to continue the bullish correction rally. If this is achieved, the price reversal could hit the $2.200 upper high mark in the days ahead in its medium-term perspective.
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