Arbitrum Price Forecast: March 5
ARBUSD at the moment is currently recovering and maintains it’s bullish trend facing the upper channel. The coin price is experiencing a massive inflow by the bulls, registering about 25% growth. Thus, if the coin closes above a $2.406 high mark, the accelerated buying pressure may increase the coin price to hit a new all-time high at $2.500 upper resistance level, indicating a growth opportunity of 70%. Thus, a potential buy signal.
Key Levels:
Resistance Levels: $1.900, $2.000, $2.100
Support Levels: $1.650, $1.550, $1.450
ARBUSD Long-term Trend: Bullish (Daily chart)
The long-term market value of Arbitrum maintains its bullish trend as seen from the chart above. The coin price is now facing the upper channel of the market and confirms a bullish race. This is due to the high impact of the buy investors in the coin market.
However, the bulls’ pressure to the $2.027 high value during the past session has sustained the coin price to maintain its bullish trend above the resistance trend levels in its recent high.
When writing this article, the ARBUSD price finds a reliable resistance at $2.195 value above the moving averages as the daily session begins today, resulting in intraday gains. This will prolong the bullish trend and fuel the release of more buy investors into the market.
Currently, the price signal is pointing upwards indicating a bullish trend and in this case, the price of Arbitrum could jump up to hit the $2.500 supply mark sooner as it maintains its bullish trend in its long-term outlook.
ARBUSD Medium-term Trend: Bullish (1H chart)
Analyzing the chart below, we can see that ARBUSD maintains its bullish trend and remains in a bullish market zone. The price currently trades above the EMA-50 making higher highs and moving towards the major upper resistance area.
During yesterday’s session, the sustained bullish pressure at the $ 2.027 level has enhanced the coin price to maintain its bullish trend in its recent high.
Earlier today, the long traders caused a rise in the price of Arbitrum to a high at the $2.082 level above the moving averages. This however creates a strong area of interest and the best crypto signal to use for buyers.
Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong breakup above the $2.173 resistance point would strengthen the bullish pressure.
Adding to this, with the price pointing upwards on the daily stochastic means that further upside is certain. It is therefore expected that the buy investors will move the price action of Arbitrum up and may likely hit the $2.500 upper resistance level in the coming days as it maintains its bullish trend in its medium-term time frame.
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