Arbitrum Price Forecast: August 24
ARBUSD after completing the low dips begins its bullish waves as price surges above the $0.099 supply level. The pair is possibly making its way up after hitting the above-mentioned level to signal a pump. The coin market price might swing up and a breakout is imminent as the crypto faces the upside. Based on the outlook, should the 4-hour candlestick close above the $1.269 previous high mark, the correction phase will extend to meet the resistance at the $1.500 upper trend line. Hence, a big turnaround and a buy signal for the coin investors.
Key Levels:
Resistance Levels: $1.250, $1.300, $1.350
Support Levels: $1.000, $0.095, $0.090
ARBUSD Long-term Trend: Bearish (4H chart)
Arbitrum is bearish in the long-term outlook. The price bar can be seen slightly below the two EMAs which confirms its bearish momentum. 
The sustained pressure from the buy traders at a $0.099 support level in the past few hours has contributed to its bearishness in its recent low. However, a new trend is about to resume as we have also spotted a breakout and the beginning of bullish waves and a continuation to the upside.
A rise to a $1.002 high level by the buying traders shortly after the 4-hour opens today affirms the returns of the long traders into the market.
Thus, the price of ARBUSD is set to advance further if the buy traders can redouble their efforts and push above the current supply level.
Should buyers push harder and breakout above the previous swing high at $1.269 value further bearish thesis would be invalidated.
Notably, the market price of Arbitrum is pointing upwards on the daily stochastic; this implies that the price action is in an uptrend, and in this case, the coin is liable to jump further and reach the $1.500 supply level in the coming days in its long-term perspective as we watch the market remains bullish.
ARBUSD Medium-term Trend: Bullish (1H chart)
The currency pair’s orientation trades in a bullish market in its medium-term outlook. The price bar is seen above the EMA-9 and slightly below the EMA-50 which confirms its bullish growth.
The bulls’ pressure on the currency pair in the past few hours has made it possible for the price to remain in an upward trend zone in its recent high.
The Arbitrum price begins its bullish waves as the price surges upward from $0.099 to a $1.002 high level above the EMA-9 as the hourly chart opens today.
If the bullish momentum persists, a breakout above the accumulation zone of $1.162 level with a candle closing will signal a strong buy signal for interested traders.
Adding to that, the market price of ARBUSD is in an upward direction on the daily stochastic, it is therefore expected of buyers to push the coin price up to a $1.500 high level and beyond as we cross our fingers and watch out for BUY soon in its medium-term time frame.
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