Arbitrum Price Forecast: June 22
ARBUSD will rise soon and there is a possibility for the pair to experience another bullish reversal price action and the price could be ready very soon for another upward move potential. If the forces from buyers in the market should increase and the current support level at $0.998 holds, the coin price may possibly retest the $1.264 previous swing high and this may extend to the $2.000 upper high mark and beyond.
Key Levels:
Resistance Levels: $1.350, $1.450, $1.550
Support Levels: $1.000, $0.950, $0.850
ARBUSD Long-term Trend: Bearish (4H chart)
The Arbitrum market is having a bearish posture in its long-term outlook as can be seen from the chart below. This is due to the inflow from the sell traders. 
The sustained pressure from the bears at the $0.987 support level during yesterday’s session has contributed to its bearishness in its recent low.
Today, after the completion of the bullish cruise at the $1.023 level, the bears intervened and made a drop to the $0.998 support level below the moving averages. Given the current trend, buyers are able to purchase the item at a lower cost and push the market higher.
Hence, if the buy traders could prove stronger and successfully keep the ARBUSD prices above the $1.199 resistance value, the cryptocurrency may likely retest its previous swing high at the $1.264 value which might put a hold on any further bearish moves.
In addition to this, ARBUSD is likely going to reverse and face the upsides soon as the market is now trading around the 30% range of the daily stochastic; it means that the selling pressure will end soon.
This will compel the buy traders to resume an uptrend and may likely break up the $1.264 supply level which may further extend to the $2.000 upper resistance level in the days ahead in its higher time frame.
ARBUSD Medium-term Trend: Bearish (1H chart)
The Arbitrum price is forming lower lows and lower highs on its medium-term chart. 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 the $0.996 low value during the previous action has made the coin 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.
The crypto rebounded from the mentioned support with a bullish candle at the $1.000 supply value as the 1-hourly chart opens today.
This indicates a genuine reversal which may attempt the $1.033 breakout. Further, investors may seize the opportunity now and buy the coin at a lower price and look for more gains ahead.
Meanwhile, further downsides are unlikely as the market price of ARBUSD has reached the oversold region. The coin will resume an uptrend soon, so we can now grow in confidence that a potential buy is coming near.
The price of Arbitrum is likely to plunge higher to hit the high accumulation zone of $2.000 upper resistance level, indicating a strong supply zone for a potential BUY in its medium-term outlook.
Place winning Arbitrum trades with us. Get ARB here
Leave a Reply