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Arbitrum (ARBUSD) Maintains Its Bullish Trend

Johnathon Fox
09/24/2024 | UPDATED ON: 09/24/2024

Arbitrum Price Forecast: September 24

ARBUSD pair maintains its bullish trend as the price keeps going up and recovering, facing the upper channel. The coin price is experiencing a massive inflow by the bulls, registering about 5.02% growth, and might move higher above the current resistance level at the $0.629, if buyers should exert more force into the price action in the market, $1.750 high trend line might be retested soon, if market conditions remain favorable.

Key Levels:
Resistance Levels: $0.700, $0.800, $0.900
Support Levels: $0.350, $0.250, $0.150

ARBUSD Long-term Trend: Bullish (Daily chart)

The ARBUSD market surged 5% and maintains its bullish trend as it keeps on increasing above the supply levels, indicating a bullish trend in its long-term view.
Arbitrum (ARBUSD) Maintains Its Bullish Trend
The increase in momentum by the bulls to a $0.615 high value in the last session has sustained the coin price to maintain its bullish trend above the resistance trend levels in its recent high.

The ARBUSD pair maintains its bullish trend as the bulls caused a rise to a $0.623 high level above the moving averages as the daily chart opens today, indicating that the traders are actively buying at this level.

Hence, a possible breakout from the mentioned supply level will provide a higher float for buyers and prolong the ongoing recovery to hit the $1.750 barrier level, reflecting a growing confidence among large holders.

In addition, the Arbitrum market is pointing upwards on the daily signal, suggesting the crypto may continue to maintain its bullish trend and quicken the emergence of more buyers to move the coin price to a significant level on the upside, and this might hit the $1.750 resistance trend mark as the crypto maintains its bullish trend in its higher time frame.

ARBUSD Medium-term Trend: Bullish (1H chart)

From this point of view, the ARBUSD market maintains its bullish trend and remains in a bullish market zone due to the high impact of the long-term traders on the price flow in the medium-term outlook.
Arbitrum (ARBUSD) Maintains Its Bullish Trend
The sustained bullish pressure on the crypto to a $0.599 high point in the past action has enabled the coin price to maintain its bullish trend in its recent price level.

Today, the impulse moves from the buy traders pushed the price of Arbitrum to a high of $0.602 above the moving averages shortly after the 4-hour session opens, as the coin maintains its bullish trend and buyers remain dominant in the crypto market.

Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong breakup above the $0.602 current resistance point would strengthen the bullish pressure.

Adding to this, the ARBUSD price pointing up on the daily stochastic suggests that the crypto price may continue to maintain its bullish trend and trend toward the $1.750 resistance level soon as it maintains its bullish trend and grows further in its medium-term time frame.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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