Arbitrum Price Forecast: April 11
The Arbitrum (ARBUSD) price is likely to grow more and is an opportunity for long investors. Having finished the downward correction, the crypto might likely continue its upside move if the current support at $1.168 value holds, and the hourly chart closes above the $1.288 resistance level, then there is a high probability of the price going up to its recent swing high, which is $1.290 resistance trend line.
Key Levels:
Resistance Levels: $1.250, $1.350, $1.450
Support Levels: $1.120, $1.110, $1.109
ARBUSD Long-term Trend: Bearish (1H chart)
The ARBUSD pair is in a bearish market zone in its higher time frame as can be seen from the chart below. The price is currently recovering and trades slightly below the two EMAs which are glued together. However, the market is presently facing resistance at the recent high.
The price drop to the $1.154 low value during the previous action has made the coin price trade below the supply levels. This will soon be invalidated as the trend has just resumed its rising pattern but has not yet reached its goal.
As a result of the pullback, buyers have been able to push the price of Arbitrum higher to a $1.170 high level below the two EMAs as the 1-hourly session opens today.
Actions from buyers have also increased the coin further up to the $1.175 resistance value as it journeys up north. More gains are possible if the bulls can put extra effort into the price action.
Next, the momentum indicator pointing upwards suggests the continuation of the bullish trend. The price might possibly grow higher to retest the previous high of $1.290 supply value which might further extend to the $1.300 upper resistance level in the coming days in its long-term outlook.
ARBUSD Short-term Trend: Bullish (15-Minute chart)
The momentum on the short-term outlook is still in an uptrend despite the inflows from the sell traders. The price bar can be seen slightly above the EMA-9. Thus, the bulls are capable of pushing higher from this trend line.
The bulls were able to push the coin to the resistance area in the previous action and sustained it by resisting the sell traders.
The market price of ARBUSD has just broken up the EMA-9 at the $1.175 supply level as the 15-minute chart opens today. This will give the crypto a high tendency to rise further.
Hence, staying above the supply level indicates a strong possibility for a bullish correction. A strong breakup above the $1.194 resistance point would strengthen the bullish pressure.
Furthermore, the daily stochastic signals an uptrend, if the bulls could push harder and sustain the coin price above the $1.190 previous high, the resulting rally may surpass the $1.194 level and hit the $1.300 psychological level at the upside in the day ahead in its short-term perspective.
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