Arbitrum Price Forecast: November 9
The ARBUSD pair is possibly making its way up. The coin price is heading towards the new resistance trend levels after hitting the $1.061 level to signal a pump. Thus, a strong push from the current price at the $1.085 supply value above the supply trend levels will put the crypto in a bullish trend and this may further extend to a $1.150 resistance level resulting in intraday gains for the buy traders.
Key Levels:
Resistance Levels: $1.080, $1.090, $1.100
Support Levels: $0.065, $0.060, $0.055
ARBUSD Long-term Trend: Bullish (4H chart)
The currency pair’s orientation trades in a bullish market in its long-term outlook. The price bar is seen above the EMA-50 heading toward the new resistance trend level which confirms its bullish growth.
The bulls’ pressure on the currency pair in the past few hours has made it possible for the price to remain in an upward trend zone in its recent high.
After completing the low-dips at the $1.051 low value, the ARBUSD price found a reliable resistance at the $1.085 value as a pullback above the two moving averages as the 4-hourly session resumed today.
Thus, it is very likely that the bulls will continue rising as the price is heading towards the new resistance levels at the present. Hence, a strong breakup above the $1.144 resistance point would strengthen the bullish pressure.
Additionally, the Arbitrum price may likely continue its journey to the new resistance trend levels as indicated by the daily stochastic which is pointing in an upward direction at the oversold region. This means that the selling pressure has ended; we can therefore expect the upcoming bullish correction phase to reach a high at the $1.150 value soon in its higher time frame.
ARBUSD Medium-term Trend: Bearish (1H chart)
Arbitrum is in a bearish momentum in its medium-term view. The trend has just resumed its rising pattern towards the new resistance trend levels but has not yet reached its goal. 
The price drop to the $1.051 low value during the previous action has made the coin price trade below the supply levels in its recent price level.
The aggressive move by the bulls pushed the ARBUSD price up to the $1.085 resistance value below the moving average lines as the 1-hourly chart opens today. This suggests that buyers are coming in a grand style to dominate the market and sellers are getting weaker.
Hence, we have a bullish bias that the price of Arbitrum will rise further to the upside if the buying pressure should increase.
Currently, the coin is making a correction, there may be a potential rise in the price to a new resistance level and this may possibly retest the previous high at the $1.144 supply level which might further extend the coin price to the $1.150 upper high trend line in the coming days in its medium-term perspective.
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