Arbitrum Price Forecast: August 8
The ARBUSD price is set for another bullish momentum, its price may swing up and a breakout is imminent at the moment. The market price may resume its upside moves soon. Based on the outlook, should the 4-hourly candlestick closes above a $1.350 supply mark; the correction phase will extend to meet the resistance at the $1.900 upper resistance trend line which indeed will be a turnaround for coin holders.
Key Levels:
Resistance Levels: $1.450, $1.550, $1.650
Support Levels: $1.250, $1.150, $1.100
ARBUSD Long-term Trend: Bearish (4H chart)
Arbitrum price is bearish on the higher time frame. Further, the price is trading below the two EMAs; it means that it’s in a bearish market zone at the moment.
The price drop to a $1.134 low value by the short traders during the previous action has made Arbitrum price trade below the supply levels in recent times. This will soon be invalidated as the trend has just resumed its rising pattern but has not yet reached its goal.
Today, the price was able to pull back and is taking the $1.145 resistance near the EMA-9.
More upsides are possible if it breaches the moving averages. A breakout above this barrier, with a 4-hour candle closing could signify a shift in the market dynamics.
Notably, ARBUSD is trading in the oversold region, under the influence of this market level, the coin price could rise steadily soon and break up the previous high at $1.305 level to reach the $1.900 upper high level soon as we watch the crypto market turns bullish in the long-term perspective.
ARBUSD Medium-term Trend: Bullish (1H chart)
ARBUSD indicates an upward trend with a bullish sentiment in its medium-term perspective. The coin is trading above the EMA-9. However, the market is presently facing resistance at the recent high. 
Bulls’ pressure on the coin at a $1.139 high mark in the past few hours has sustained the price and has made it possible for the coin to stay above the trend line and remain stronger at the moment.
The market value of ARBUSD at a $1.142 supply level is seen slightly above the EMA-9. This however makes it capable for the coin to rise further.
Trading above the moving averages will enable the market value of Arbitrum to keep pushing up. Thus, a break above the $1.195 previous high point will put further selling pressure into hibernation.
Hence, the pair pointing up on the daily stochastic means that the buying pressure may continue, and suggests a possible recovery of the $1.900 supply level in the coming days in the medium-term outlook.
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