Arbitrum Price Forecast: December 5
ARBUSD‘s price is currently running a bullish race and remains stable at the moment. The price will keep rising and an opportunity for the coin buyers to invest. Thus, if the coin closes above the $1.222 high mark, the accelerated buying pressure may increase the coin price to hit the $1.350 upper resistance level and beyond which could result in an intraday gain for the coin traders.
Key Levels:
Resistance Levels: $1.000, $1.050, $1.100
Support Levels: $0.800, $0.700, $0.600
ARBUSD Long-term Trend: Bullish (Daily chart)
The Arbitrum market is in a bullish momentum in its long-term view. The trend which is above the moving average line will keep rising as the price has not yet reached its goal.
The sustained bullish pressure to a $1.121 high level in the past few days has made the price remain above the supply trend level in its recent high.
The price distribution of ARBUSD at the moment has risen to a $1.123 high level which is above the EMA-50 shortly after the daily chart opens today, this indicates that bulls are dealing on the coin at the present and will keep rising.
Thus, should the buy investors put more effort and close the daily chart above the $1.222 supply trend line, further bearish sentiment will be invalidated.
Similarly, the price indicator which is also pointing up on the daily stochastic suggests that the Arbitrum market is in an uptrend and will keep rising, if this is achieved, the $1.300 upper resistance mark might be the target in the coming days in its higher time frame.
ARBUSD Medium-term Trend: Bullish (4H chart)
Analyzing the chart below, we can see clearly that the ARBUSD pair is in a strong bullish market zone. The price currently trades above the EMA-50 making higher highs and will keep rising as it moves toward the major upper resistance area.
The bulls’ pressure on the coin to the $1.118 supply value during the past session has sustained the coin price above the resistance trend levels in its recent price level.
The strong push by buyers to the $1.122 resistance trend line above the EMA-50 as the 4-hour chart opens today shows that the buying activities is rising. Thus, if the long traders could break above the $1.183 supply mark, the bearish thesis will be invalidated
Notably, there is a possibility that the Arbitrum price will keep rising as indicated by the price signal which is pointing in an upward direction. This may extend the price of ARBUSD to a high at $1.300 upper resistance value soon in its medium-term forecast.
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