Arbitrum Price Forecast: August 17
Amidst the recent upsurge in the crypto market, the ARBUSD price hints upswing continuation as the coin is currently running a bullish race and remains stable at the moment. The price is going up and an opportunity for the coin buyers to invest. Hence, the price will most likely continue its bullish run and could still go higher. Further, an increase in the bulls’ pressure may break up at the $1.350, level and this may push the price of the crypto to $1.450 and $1.500 levels then we can expect a good upside momentum up to $2.000 upper high level.
Key Levels:
Resistance Levels: $1.450, $1.550, $1.650
Support Levels: $1.250, $1.150, $1.050
ARBUSD Long-term Trend: Bullish (4H chart)
ARBUSD is in a bullish trend market in its long-term view. The prices are strongly traded above the moving averages which have confirmed its bullish trend. 
The coin made it to a $1.151 high level during the previous action and has made the price remain in green above the supply trend level in its recent high.
The coin trading above the moving averages at the $1.163 resistance level above the supply trend levels is an indication of a more bullish impact in the market. Arbitrum is trading in a “Rising Channel”, making higher highs and higher lows, showing signs of bullishness and upswing continuation.
However, if the buy traders successfully keep the ARBUSD prices above the $1.350 supply value, further bearish thesis would be invalidated.
Additionally, the price of Arbitrum hints at an upswing continuation as shown by the price indicator which is in an upward direction.
If the price is able to break above the $1.350 resistance level, then we can expect the coin price to surge higher to hit the $2.000 upper high value soon in its long-term outlook.
ARBUSD Medium-term Trend: Bullish (1H chart)
The market value of ARBUSD in the lower time frame (1H) is seen above the exponential moving averages approaching the overhead resistance area. 
Pressure from the buying team at the $1.141 supply value during the past session has sustained the coin price above the resistance trend levels in its recent price level.
The long traders made an aggressive move to a $1.163 high value above the two EMAs shortly after the hourly chart opened today.
Hence, there is a higher probability of the price breaking its previous resistance at the $1.186 level as many buy investors are clustered around the market at the moment. A real-time for a potential BUY.
Notably, more upsides are likely as the momentum indicator points upwards indicating an upswing continuation.
With this trend, the market price of Arbitrum may possibly hit the $2.000 upper resistance level and beyond soon in its lower-term outlook.
Place winning Arbitrum trades with us. Get ARB here
Leave a Reply