Arbitrum Price Forecast: June 25
The ARBUSD pair is aiming for a possible reversal at the $0.762 support value due to the exhaustion of the selling pressure. The coin price could begin its uptrend soon if the buy traders could wrestle trend control with the sell traders and rebound from the current support at $0.762 value. The upside move may touch the $2.406 supply level and extend to a $2.500 upper resistance level, bringing more gains to the crypto traders.
Key Levels:
Resistance Levels: $1.250, $1.350, $1.450
Support Levels: $0.800, $0.700, $0.600
ARBUSD Long-term Trend: Bearish (Daily chart)
There is a probability for the ARBUSD pair to experience a possible reversal at the $0.762 low value in its long-term view. The coin price is below the moving averages and has confirmed its bearish trend market.
The sustained bearish pressure in the past few days has kept the crypto price below the supply trend levels at its recent low.
The coin plummeted beneath the supply level at a $0.0762 support level as the daily chart resumed today. Meanwhile, the Arbitrum price could experience a possible reversal at the mentioned support if the bulls can add more energy to their buying momentum. Hence, the $2.406 previous high may be retested sooner.
Additionally, the stochastic is also showing the market may encounter a possible reversal at the $0.762 support level as the coin market is oversold. This means that the selling pressure will end soon. This will compel the bulls to resume the bullish trend to retest the $2.406 supply level; the $2.500 resistance level might be reached in the days to come in its long-term outlook.
ARBUSD Medium-term Trend: Bearish (4H chart)
The chart below indicates that the ARBUSD market could see a possible reversal to the upside soon as the selling pressure seems to be winding off in its medium-term outlook. This is due to the interference of sell traders in the price flow.
The sell traders made a downward move to the $0.778 support level before the end of yesterday’s session. This gave sellers more strength to continue with the trend in its recent low.
As the 4-hourly chart begins today, bearish actions lowered the coin price, reaching the $0.762 support level below the EMA-50.
However, if the buy traders could increase their buying forces in the market, a possible reversal at the $0.762 current support to a retest of the previous high at the $2.406 level is certain soon.
Adding to that, further upsides are likely as the price signal is pointing downwards in the oversold region, this means that the selling pressure will end soon. In light of this, the possible reversal may lead the Arbitrum price to reach the $2.500 upper resistance level in the coming days in the medium-term time frame.
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