Arbitrum Price Forecast: May 15
ARBUSD price may resume an uptrend to break up at the $2.406 resistance mark soon. A decisive break below $0.973 would bring additional losses to the coin. However, a daily candlestick above the mentioned supply level would refute any bearish theory. Thus, an upward trend shift can be achieved if buyers can exert more effort in their tension within the market.
Key Levels:
Resistance Levels: $1.100, $1.200, $1.300
Support Levels: $0.800, $0.700, $0.600
ARBUSD Long-term Trend: Bearish (Daily chart)
ARBUSD pair may break up at the $2.406 previous resistance mark after updating the lows in its long-term outlook. The coin price can be seen below the supply levels, indicating a bearish trend. This is a result of low bullish momentum. 
The persistent bearish pressure on the crypto at the $0.987 support level in the past session also contributed to its price drop below the trend levels in its recent low. Hence, the price of
Arbitrum is likely to break up at its previous high soon as the selling pressure will soon be exhausted.
As the daily chart begins today, bearish actions sent the coin price lower, reaching the $0.946 support level below the EMAs. Therefore, more intraday gains would be recorded for the buy investors if the bulls could exchange hands with the sell traders and break up at the $2.406 resistance mark.
In a like manner, ARBUSD is likely going to reverse and face the upsides as the market is trading below the 8% range of the daily stochastic; it means that the selling pressure will end soon. This will compel the buy traders to resume an uptrend and may likely break up at the $2.406 resistance mark in no long time in its higher time frame.
ARBUSD Medium-term Trend: Bearish (4H chart)
The crypto remains bearish. However, the price may finish the selling pressure to break up at the $2.406 resistance mark sooner on the medium-term outlook. The price of ARBUSD is below the moving average which has confirmed its bearishness.
The bears’ pressure at the $0.977 low level in the past session has made the coin price remain below the supply level lately. However, the coin price is likely to break up at its recent high level soon as the market is already oversold.
The short traders aggressively dropped the price of the Arbitrum down to a $0.945 support level below the moving averages shortly after the 4-hourly session opened today.
Hence, there is a higher probability of the price breaking up its resistance level of $1.268 and going up much further if the current support level at $0.945 is put on hold.
Next, the coin has fallen below the level of 20% of the daily stochastic. It indicates that the pair is now in the oversold region of the market. It implies that the selling pressure is likely to run to an end. We will now be looking into the emergence of buyers in the oversold region of the market.
The price action may break up at $1.268 to reach a high of $2.406 level and beyond soon in its medium-term time frame.
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