Arbitrum Price Forecast: June 27
It could be seen that the Arbitrum Bulls are making solid progress as the coin price is moving toward the upper resistance levels on the 4-hour chart. If the bulls could prove stronger and the price shows sustainability above the $2.406 resistance value, then we can expect a shift in trend to hit a higher resistance level of $2.500, resulting in an intraday gain and a potential buy signal for the coin holders.
Key Levels:
Resistance Levels: $1.000, $1.100, $1.200
Support Levels: $0.800, $0.700, $0.600
ARBUSD Long-term Trend: Bearish (Daily chart)
The Arbitrum Bulls are making solid progress as the coin price is facing resistance after updating the lows in its long-term outlook. The price is facing a resistance level below the moving average, confirming its bearishness.
It could be seen that the Arbitrum Bulls are making solid progress as the coin price is moving toward the upper resistance levels
The sustained bearish pressure to a $0.778 low value in the past few days has made the cryptocurrency price remain below the supply trend levels in its recent high.
However, the bulls are making solid progress, as we can see a new correction facing the resistance level to establish the bullish sentiment.
Today, an impressive move by the bulls from the $0.819 to $0.846 supply level below the EMA-50 as the daily chart opens today indicates that the bulls are actively buying and making solid progress at this level. Hence, should the bulls increase their buying motives, the previous high of $2.406 value might be retested soon.
Furthermore, the market value of ARBUSD might continue to increase and make solid progress, as shown by the daily stochastic pointing up. In light of this, the price of Arbitrum might reach a $2.500 supply level in the days ahead in its long-term outlook.
ARBUSD Medium-term Trend: Bullish (4H chart)
ARBUSD has a bullish posture as the bulls are making solid progress trading above the EMA-50 in its medium-term outlook, which means that it’s in a bullish trend zone.
The bullish pressure at the $0.789 resistance level in the past few hours has made the coin stay above the supply trend level and make solid progress in its recent high.
The coin price breakout at the $0.844 resistance value above the EMA-50 as the 4-hourly chart opens today indicates the bulls are making solid progress, resulting in intraday gains.
Therefore, if the bulls should add more aggression to their activities in the market, the price could surge higher to retest its previous high of $1.223 resistance level.
Hence, Arbitrum price is showing more upside possibility as indicated by the daily stochastic pointing in an upward direction as the bulls continue to make solid progress and dictate the market conditions. The pair may likely reach the $2.500 resistance level in the days ahead in its medium-term outlook
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