Arbitrum Price Forecast: April 6
ARBUSD price is set for a sharp rally to the $2.0000 upper high level as we are seeing a bullish correction in place. The coin is hereby facing the positive side having finished with the lows. The coin gave a bullish breakout from the $1.21 level, suggesting buyers are making a recovery attempt. Thus, if the crypto’s price sustains above the $1.4295 high value, the potential rally could surge higher to hit the $2.0000 supply trend line and beyond.
Key Levels:
Resistance Levels: $1.5000, $1.6000, $1.7000
Support Levels: $1.1100, $1.1000, $1.0009
ARBUSD Long-term Trend: Bullish (1H chart)
ARBUSD is in a bullish market zone in its long-term outlook. The coin is losing bearish momentum as can be seen vividly from the chart below. This means that the trend is in an uptrend in its long-term view.
The bulls’ pressure on the coin at the $1.2143 supply value during the previous action has enhanced the coin price to remain above the supply levels in its recent high.
The market price of Arbitrum at the $1.2115 high level above the moving averages shortly after the 1-hourly chart opens today indicates that buyers are having the market price at their disposal at the present.
Therefore should the buy traders increase their tension in the market, the price is poised to pump up above the key resistance at around $1.4440 value.
Furthermore, the ARBUSD price will likely continue its upward move as shown by the stochastic oscillator which is pointing upward. Therefore, a bullish breakout above the current supply mark may trigger the coin price to reach a $2.0000 upper high value in the nearby days in the higher time frame.
ARBUSD Short-term Trend: Bullish (15-Minute chart)
ARBUSD is trading in a bullish market at the moment. The market price is retracing and also facing the positive side, so the bulls are also trying to resist the short traders from penetrating.
The price jump to the $1.1937 supply value by the bulls during the previous action has contributed to its bullish trend in its recent high.
The bulls responded to the shift in the trend and made an increase to the $1.2109 supply trend level above the two EMAs as a pullback as the 15-minute chart opens today: evidence of bullish recovery and growth in bullish momentum. Thus, this bullish pattern will encourage further recovery and might possibly breach the $1.2409 supply level soon.
Hence, more upsides are expected as buyers are seen clustering around the market, it is, therefore, possible for the bulls to continue with this rally and the $2.0000 upper resistance mark might be achieved in the coming days in its short-term time frame.
Place winning Arbitrum trades with us. Get ARB here
Leave a Reply