Arbitrum Price Forecast: December 19
ARBUSD is very likely to continue growing as we are seeing a bullish correction in place. The coin is rising and this may continue. The coin showed a bullish breakout from the $1.123 level, indicating that buyers are attempting a recovery. As a result, if the crypto price could hit the $1.262 high value, the potential rally might extend to the $1.300 supply trend line and beyond.
Key Levels:
Resistance Levels: $1.122, $1.123, $1.124
Support Levels: $1.080, $1.079, $1.078
ARBUSD Long-term Trend: Bearish (4H chart)
Arbitrum is bearish in its long-term outlook. The price responded to the shift in the market structure and is currently trading below the moving averages. However, the coin is rising now and this may continue.
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.
The ARBUSD pair is recovering from the recent correction as fresh buying emerges near the supply level following the upward race. The cryptocurrency has completed its downward correction and is now set for rising and this may continue.
Shortly after the 4-hour chart opened today, buy traders pushed the market price of Arbitrum up to the $1.123 resistance level, which is slightly below the EMA-50. A break above $1.262 would increase buying pressure on the coin market.
Adding to that, Arbitrum’s market price is pointing up on the daily stochastic, indicating that the coin’s price momentum is rising and this may continue. We can now anticipate the bulls’ next jump to reach a $1.300 upper resistance level in the coming days.
ARBUSD Medium-term Trend: Bullish (1H chart)
The momentum on the medium-term outlook looks bullish as we can see the price of Arbitrum rising and this may continue as can be seen from the chart below. So it seems likely that the bulls are about to take over and push us higher.
Pressure from buyers at the $1.107 high value in the previous action has sustained its upward stability in its recent high.
Despite the interactions from the short traders, the bulls caused a rise to a $1.123 high level below the EMA-50 shortly after the commencement of the 1-hour chart opens today. Thus, buyers need to add more pressure to their activities to move the market beyond the current price level.
Notably, the market price of ARBUSD is pointing up on the daily stochastic, indicating that the crypto price is rising and this may continue. As a result, the next bull’s target could be the $1.300 upper resistance value soon in its medium-term time frame.
Place winning Arbitrum trades with us. Get ARB here
Leave a Reply