Arbitrum (ARBUSD) Price Forecast: April 21
ARBUSD at the moment is currently recovering and facing the upper channel. Thus, if the coin closes above a $1.744 high mark, the accelerated buying pressure may increase the coin price to revisit the $1.819 upper resistance level, and a potential buy signal.
Key Levels:
Resistance Levels: $1.500, $1.600, $1.700
Support Levels: $1.300, $1.200, $1.100
ARB (USD) Long-term Trend: Bullish (1H Chart)
The long-term market value of Arbitrum is moving in a bullish direction as can be seen from the chart below. The coin price now trades in the upper channel of the market and confirms a bullish race. This is due to the high impact of the buy investors in the coin market.
During yesterday’s session, the pair reached and held the $1.785 resistance level. This has made it possible for the coin to remain in an uptrend in its recent high.
The price opened lower but managed to trade in green over the past few hours. The price finds a reliable resistance at $1.595 value above the moving averages as the 1-hourly session begins today, resulting in intraday gains. This will prolong the upward rally and fuel the release of more buy investors into the market.
As of now, the price signal is pointing upwards indicating a bullish move and in this case, the price of Arbitrum could jump up to hit the $1.819 supply mark sooner in its long-term outlook.
ARB (USD) Short-term Trend: Bullish (15-Minute Chart)
Analyzing the chart below, we can clearly see ARBUSD is in a bullish market zone. The price currently trades above the EMA-9 making higher highs and moving toward the major upper resistance area.
The sustained bullish pressure at the $1.748 level during yesterday’s session actually made it capable for the buy investors to retain the strength.
The drop in the price of Arbitrum to the $1.575 low value as the 15-minute chart commenced today has no serious effect on the market as the price remains in an uptrend.
Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong breakup above the $1.793 resistance point would strengthen the bullish pressure.
Similarly, should the bulls exchange hands with the sell traders at the $1.575 low value and close above the $1.793 resistance value, the coin price might further increase to a $1.819 resistance level which could lead to additional gains for the buy investors in its short –term outlook.
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