Arbitrum Price Forecast: August 22
The ARBUSD price is gathering momentum and could rise from the support level soon if the bullish pressure is triggered. The coin price could be ready very soon for another upward wave if the forces from buyers increase and the current support level at $0.533 remains unmoved. Attaining this, a possible relief rally may drive the coin market price to retest the $2.256 and extend to a $2.400 upper resistance level, bolstering the coin traders for a significant increase.
Key Levels:
Resistance Levels: $0.500, $0.530, $0.540
Support Levels: $0.300, $0.200, $0.100
ARBUSD Long-term Trend: Bearish (Daily chart)
The Arbitrum price could rise from the support level soon as it prepares its way up in its higher time frame. The coin has just begun its rising pattern below the moving average, indicating a bearish momentum.
The price drop to the $0.536 low value in the past few days has made the coin price remain below the supply levels in its recent dip. However, the ARBUSD pair could rise from the current level as the coin price has just resumed its upward correction.
The ARBUSD pair relieved the bears and moved up to a $0.540 high value as the daily chart opens today, indicating the return of the long traders attempting the $2.256 previous barrier.
Notably, the market is pointing up on the daily stochastic, suggesting that the ARBUSD could rise from the support level soon for potential growth.
In light of this, the price of Arbitrum might increase to hit the $2.400 upper resistance mark in the days ahead in its higher time frame.
ARBUSD Medium-term Trend: Bearish (4H chart)
The market price of ARBUSD could rise from the support levels soon as the selling pressure is about winding up on the medium-term outlook. 
The crypto price is below the moving average line due to the inflows from the sell traders. Thus, the coin price could rise from the current trend sooner as it approaches the oversold region.
Today, action from the bears dropped the ARBUSD price to a $0.533 support level below the EMA-50 as the 4-hourly chart opens.
Meanwhile, should the bulls prove stronger and increase their buying pressure, the price of Arbitrum could rise from the support level to retest the $0.735 previous high point suggesting a strong supply zone and a potential BUY for the coin investors.
Additionally, the Arbitrum market approaching the oversold region suggests that the crypto price could rise from the support level soon.
Therefore, if buyers intensify their tension in the market and reverse from the $0.533 support level, the coin prices might swing above the $0.735 barrier line, indicating an intraday gain for interested traders in the medium-term outlook.
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