Arbitrum Price Forecast: August 15
The ARBUSD pair is possibly making its way up and the price may surge above the above-mentioned supply soon. Thus, a strong push from the current price at the $1.158 supply value above the $1.297 high mark will put the crypto in a bullish trend and this may further surge above the $1.305 resistance level which may extend the price to a $2.000 resistance level resulting in intraday gains for the buy traders.
Key Levels:
Resistance Levels: $1.250, $1.350, $1.450
Support Levels: $1.120, $1.110, $1.109
ARBUSD Long-term Trend: Bullish (4H chart)
ARBUSD turns positive as can be seen from the chart below. The coin price now trades slightly above the EMA-50 and confirms a bullish race. This is due to the high impact of the buy investors in the coin market.
Pressure from the bulls at a $1.151 high value in the previous action has sustained its upward stability in its recent high.
Earlier today the coin buyers responded to the market after a series of low-dips in the previous action and break out from the support trend line to a high at the $1.158 supply value above the EMA-50; this will give room for buy investors to influence the price tendency. Thus, a break above the $1.305 previous high mark would intensify the buying pressure on the crypto.
Adding to that, the price may surge above the previous high of $1.305 soon as the momentum indicator now points upwards, indicating an upward trend.
We can now expect the price of Arbirtum to reach a significant level of $2.000 supply trend line as the bulls continue with their bullish correction and remain dominant in its long-term perspective.
ARBUSD Short-term Trend: Bullish (1H chart)
The market value of ARBUSD can be seen in a bearish scenario in its short-term outlook. This is due to the interference of sell traders in the price flow.
The sustained pressure from the sell traders at the $1.154 support level in the past few hours has contributed to its bearishness in its recent price level.
After a series of moves by sellers to a low at the $1.138 level, the bulls successfully pulled back and moved the coin price up to a $1.159 high mark below the two EMAs: this is an indication that the bulls are returning gradually for an increase in the coin price and to command the Arbitrum’s price actions.
However, if the buy traders successfully keep the coin prices above a $1.186 high value, a retest of the previous high at $1.189 level is possible soon.
Adding to that, further upsides are likely as the price signal is pointing upwards in the oversold region, this means that the upward rally will still continue and may likely surge above the $1.350 supply value and this may reach the $2.000 supply value soon in the lower time frame.
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