Arbitrum Price Forecast: November 23
The Arbitrum market is currently making its way up for a potential recovery after the completion of the downward move. Should the bulls regroup and push higher, a further bullish breakout from the $1.021 value will accelerate the new bullish correction phase. The $1.250 upper resistance mark and beyond might be the target.
Key Levels:
Resistance Levels: $0.800 $0.900, $1.000
Support Levels: $0.500, $0.450, $0.400
ARBUSD Long-term Trend: Bearish (4H chart)
As an outcome of low bullish momentum, the ARBUSD trades in a bearish trend in the long-term outlook. The price which is now making its way up for a potential recovery can be seen trading below the two moving averages. 
The bearish pressure at the $1.011 support level in the past few hours has made the coin remain below the supply trend levels in recent times.
The coin price at the $1.021 resistance value below the moving average is undeniably bullish as the 4-hour session opens today. This is an indication that the bulls are returning gradually for a potential recovery in the coin price and to command the Arbitrum’s price actions. Thus, the coin price will grow further if the buy traders can add more pressure to their buying actions in the market.
Similarly, further upsides are likely as the price signal is pointing upwards in the oversold region, this means that the potential recovery will still continue and may likely break the $1.222 resistance value and this may reach the $1.250 supply value soon in the long-term time frame.
ARBUSD Medium-term Trend: Bearish (1H chart)
The momentum on the medium-term outlook looks bearish but it is starting to turn bullish as can be seen from the chart now. The price of Arbitrum is currently making its way up for a potential recovery close to the EMA-50. So it seems likely that the bulls are about to take over and push us higher.
Despite the interactions from the short traders, the bulls caused a rise to a $1.021 high level below the two EMAs 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.
Meanwhile, the market is pointing up in the oversold region indicating a potential recovery. This will now compel the long traders to emerge and push the market price of ARBUSD up to a significant level of $1.250 upper high level in the days ahead as the coin price makes its way up for a potential recovery in its medium-term time frame.
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