Arbitrum Price Forecast: June 20
The ARBUSD market resumes upside correction following the just concluded downward momentum. The crypto is about to make noise again, attempting to rebalance to the upside after completing the downward moves. The pair is currently trying to avoid a collapse by defying sellers; if the bulls’ push breaks through the resistance level of $2.406, the coin price may rise to $2.500 upper resistance level or higher, suggesting a potential rally for the coin traders.
Key Levels:
Resistance Levels: $1.000, $1.100, $1.200
Support Levels: $0.600, $0.500, $0.400
ARBUSD Long-term Trend: Bearish (Daily chart)
ARBUSD resumes upside correction after updating the lows. Meanwhile, the market is having a bearish posture and also shows the impeding next big move in the price as can be seen from the chart below. 
The bears’ action on the crypto to a $0.741 low value in the last session has led to the coin’s bearishness in its recent price level.
However, on the daily chart today, there is a broader recovery in the prices as the ARBUSD resumes upside correction as a pullback to the $0.834 resistance level below the supply levels.
This suggests the return of the bulls to stabilize the market price. Thus, a strong break up above the $2.406 previous resistance point would strengthen the bullish pressure and invalidate any further decline.
Meanwhile, the daily stochastic is pointing up in the oversold region, indicating Arbitrum price has some room to move to the upside before it hits the overbought zone. As a result, the crypto upside correction may reach the $2.500 upper high value in the coming days as it resumes upside correction in its long-term outlook.
ARBUSD Medium-term Trend: Bearish (4H chart)
ARBUSD rebounded after its downside moves to resume upside correction. The coin is now finding its way to the resistance level in its medium-term time frame. The market price is below the supply level, indicating the coin is in a bearish market. 
The market has been slowed down in recent times due to the interaction from the bears at the $0.768 support level in the previous action. Hence, the market shows that the coin price may turn bullish soon as it resumes its upside correction to break up the crucial supply level.
Meanwhile, buyers are not relenting: hence, the current price of Arbitrum at the $0.834 supply mark below the EMA-50 is an indication that the bulls are attempting the upside correction. Thus, the post-breakout rally may surge the ARBUSD price by 20% increase to hit the previous high at the $1.269 mark.
In addition, the daily signal remains in an uptrend, indicating a bullish continuation. Thus, should the bulls change their orientation and the buying pressure persists, the coin may give a bullish breakout of the bearish pattern to retest the $1.269 supply level, which may eventually lead the Arbitrum price to the $2.500 high mark in the coming days as it resumes upside correction in its medium-term perspective.
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