Arbitrum Price Forecast: April 16
The ARBUSD pair could break above the support line to face the upper channel following the recent upsurge in the crypto market. The coin saw a notable increase in the last few hours. Thus, a sharp breakout and closure above the $2.406 correction phase will invalidate any bearish thesis and the price might hit the high of $2.500 upper level and beyond.
Key Levels:
Resistance Levels: $1.000, $1.100, $1.200
Support Levels: $0.900, $0.800, $0.700
ARBUSD Long-term Trend: Bearish (Daily chart)
Arbitrum is bearish in its long-term outlook. Hence, the price could break above the support line soon as it is now on its way to the resistance. The price responded to the shift in the market structure and is currently trading below the moving averages. 
The crypto price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
At the time of writing this article, buyers made a pullback to the $1.216 supply mark below the EMA-50 line as the daily chart opens today.
Meanwhile, the price of ARBUSD could break above the support level to hit the previous high at $2.406 level if the bulls could add more potential to their buying swagger in the market.
Additionally, the coin price is also in an uptrend on the daily signal. This means that the Arbitrum price could break above the current level soon, so we can now grow in confidence that a potential buy is coming near. If this is achieved, a $2.500 high value might be the target in the coming days in its long-term outlook.
ARBUSD Medium-term Trend: Bearish (4H chart)
The momentum on the medium-term outlook is also bearish. However, the coin price could break above the support line to hit the resistance level as soon as we can see a new correction in place.
The bearish interference to the $0.979 low level in the previous action has contributed to its bearish momentum in recent times.
Earlier today, the bulls corrected the $1.134 supply level below the moving average shortly after the commencement of the 4-hourly chart opens today.
Thus, buyers need to add more pressure to their activities to break above the support line and move the market beyond the current price level to hit the $1.733 level.
In addition, the momentum indicator shows that the price of ARBUSD could break above the support line soon by pointing in an upward direction, so the next price target might be the $2.500 supply level and beyond in the coming days in its medium-term outlook.
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