Arbitrum Price Forecast: February 29
The ARBUSD price can increase to the $2.50 resistance level after completing the downward moves. The coin is now experiencing a fresh correction and could shortly rise to the upper channel of the trend. It is possible that the coin price will continue to increase and that it will likely retest the high of $2.406. If buyers should continue with the upbeat trend and exert more momentum pressure on the market, the coin price may go on its high ascent. The coin may continue to increase upward to a peak of $2.50 and beyond, leading to an intraday gain for the coin traders.
Key Levels:
Resistance Levels: $1.91, $1.92, $1.93
Support Levels: $0.94, $0.93, $0.92
ARBUSD Long-term Trend: Bullish (Daily chart)
ARBUSD‘s price target is to increase to the upper channel of the bullish trend as it remains in a bullish trend market in its long-term view. The coin is trading above the EMA. However, the market is presently facing resistance at the recent high and may increase to a $2.50 high mark soon.
The coin made it to the $1.93 high level during the previous action and has made the price remain in green above the supply trend level in its recent high.
The bulls caused an increase to the $1.95 high level above the moving averages as the daily chart opens today. This indicates that the traders are actively buying at this level.
Hence, should the bulls increase their buying motives, the previous high of $2.406 value might be retested soon. This may boost the crypto signal shortly.
Additionally, the Arbitum price is likely to increase further as shown by the daily stochastic which indicates an uptrend, hence, there is a tendency for the coin to increase further, if the support level holds, this will enable buyers to take the price up to a high of $2.50 soon in its long-term perspective.
ARBUSD Medium-term Trend: Bullish (4H chart)
The Arbitrum market is likely to increase to the upper channel in the medium-term time frame. The price bars are showing above the EMA-50, approaching the upper resistance area indicating that the bulls are regaining market strength. So it seems likely that the bulls are about to take over and increase the price action. 
The coin made it to the $1.89 high level during the previous action and has made the price remain in green at the uptrend in its recent price level.
The bulls made an increase up to the $1.94 resistance level above the EMA-50 shortly after the 4-hour chart opened today. This however makes it possible for the coin to rise further.
Trading above the moving averages will enable the market value of ARBUSD to keep pushing up. Therefore, if the bulls should add more aggression to their activities in the market, the $2.50 resistance level might be reached soon as the Arbitrum price increases to the upper level in its medium-term time frame.
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