Arbitrum Price Forecast: July 4
Amidst broader market declines, ARBUSD shows signs of upward retracement and remains open for bullish expansion. The crypto has gained traction in the market after a recent rebound. As a result, if the bulls can unleash their forces in the market, the price may likely jump and hit the $2.406 previous high point and extend to the $2.500 upper supply level or higher, resulting in an increased investors’ commitment to the token.
Key Levels:
Resistance Levels: $1.100, $1.150, $1.200
Support Levels: $0.800, $0.700, $0.600
ARBUSD Long-term Trend: Bearish (Daily chart)
In the long term, the ARBUSD pair shows signs of upward retracement while it remains in a bearish trend. The price bar is in a green candle below the moving averages, indicating a bearish momentum. This is due to the high inflow from the sell traders. 
However, there is about to be a turnaround for the Arbitrum buy traders as the crypto has just resumed its upward retracement.
The coin price has been trading below supply trend levels since its most recent low, owing to a strong negative pressure over the last few days.
The crypto rebounded from the $0.776 support value and pushed higher to the $0.784 supply level below the EMA-50 as the daily chart opens today. This indicates a genuine retracement, attempting the $2.406 crucial supply breakout.
In light of this, a bullish impact by the buy investors toward the higher side is likely as indicated by the daily stochastic pointing upwards. The bulls could, therefore, aim at the psychological level of $2.500 resistance value in the days ahead as Arbitrum price shows signs of upward retracement in its long-term perspective.
ARBUSD Medium-term Trend: Bearish (4H chart)
The ARBUSD price shows signs of an upward retracement following the completion of the downward correction in its medium-term view. The currency pair is trading in a bearish market due to the high influence of the sell traders.
Arbitrum price is showing a sign of upward retracement and may be on the rise after breaking through support at the $0.777 level to signify a pump-up.
The market price of ARBUSD, which rises to a high of $0.784 below the moving average line as the 4-hourly session begins today, signals a return of bulls to the market and shows a sign of upward retracement, suggesting a recovery attempt.
The upward retracement may likely surge the coin price above the $1.104 psychological level. Thus, ARBUSD’s price sustainability above the $1.104 mark could encourage buyers for more upswings.
Notably, the coin is in an upward direction in the oversold region of the daily stochastic, therefore, if additional selling power is prevented, a post-retest rally may drive the prices high to hit the $2.500 resistance value as soon as the coin price shows a sign of upward retracement in its medium-term time frame.
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