Arbitrum Price Forecast: January 9
Arbitrum (ARBUSD) price is pumping up again and claims another resistance zone which indeed is a good time to buy for the coin traders. The coin gave a massive breakout from the daily resistance of $1.882 if the coin price could sustain above the pattern supply trend line to revisit the previous high of $2.120 value, the potential recovery could assist buyers in reaching the $2.200 upper high level, indicating a growth opportunity of 80%. Thus, a buying time for the coin traders.
Key Levels:
Resistance Levels: $1.700, $1.750, $1.800
Support Levels: $1.450, $1.400, $1.350
ARBUSD Long-term Trend: Bullish (Daily chart)
The long–term market of ARBUSD claims another resistance zone and remains bullish as can be seen from the chart below. The coin price is now trading above the moving averages with huge volumes from the bulls. Thus, the recent market structure has favored the bulls. 
However, the bulls’ pressure to the $2.120 high value in the past few days has sustained the coin price above the resistance trend levels in its recent high.
After completing yesterday’s low at $1.692 value, today’s daily bullish candle at the $1.753 value which further rises to a $1.882 supply mark above the moving averages confirms the bulls’ return and dominance in the market.
Therefore, if the bulls increase their tension in the market, the price tendency will move above the key levels and claim another higher resistance zone. Further, the rising prices reclaimed more confirmation for a bullish recovery.
Additionally, the daily stochastic indicates an uptrend, hence, there is a tendency for the Arbitrum price to rise further, if the support level at $1.692 holds, this will enable buyers to take the coin price up to a high of $2.200 soon to claim another resistance zone in its long-term perspective.
ARBUSD Medium-term Trend: Bullish (4H chart)
The Arbitrum market also claims another resistance zone by trading above the supply levels in its medium-term outlook. This shows that buyers are currently gaining more strength in the market.
The coin has been having a series of higher highs and higher lows in the past few hours which have sustained the bullish impact on the cryptocurrency.
The bulls made an aggressive move up to the $1.882 resistance level above the EMA-50 shortly after the 4-hourly chart opened today. This however makes it possible for the coin to rise further and claim another resistance zone.
In addition, the daily stochastic moving upward suggests that new entries by long-term traders are expected, which means that, from a medium-term viewpoint, the bulls may target the psychological level at $2.200 in the upper resistance area in the next few days.
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