Arbitrum Price Forecast: January 2
ARBUSD‘s price is currently running a bullish race and remains stable. The price might reach the $1.700 upper resistance level as the crypto is facing high pressure from the bulls. Thus, a sharp breakout and close above the current correction phase at the $1.602 high value will invalidate any bearish thesis, and the price may reach the high at the $1.700 upper resistance level and beyond.
Key Levels:
Resistance Levels: $1.600, $1.650, $1.700
Support Levels: $1.450, $1.350, $1.250
ARBUSD Long-term Trend: Bullish (Daily chart)
ARBUSD is in a bullish trend market in its long-term view. The prices are traded above the moving averages and might reach the $1.700 upper resistance value soon. This is due to the high impact of the bulls on the crypto market.
The coin made it to the $1.560 high level during the previous action and has made the price remain in green above the supply trend level in its recent high.
The bulls increased to the $1.602 supply value above the EMA-50 shortly after the daily chart opened today. This indicates that the buy investors are dealing in the coin investment. Therefore, if the bulls could increase their tension in the market, the price tendency might reach the $1.666 previous supply value, resulting in more gains for the coin buyers.
The longer the price of ARBUSD stays above the mentioned supply level, the more pressure builds up to reach a key significant level at the upside.
Adding to this, the Arbitrum price is also pointing upwards on the daily stochastic, this suggests that the coin price may likely continue in an upward direction and might reach the $1.700 supply trend line soon in its higher time frame.
ARBUSD Medium-term Trend: Bullish (4H chart)
The recent market has favored the bulls as the Arbitrum price remains strong above the supply levels and this might reach the $1.700 upper resistance level soon in its medium-term outlook. Buyers are optimistic about achieving higher levels, confirming their current market dominance. 
During the previous action, the buy investors made a jump to the $1.624 supply value above the moving averages and maintained it; this allowed the crypto to remain strong above the trend line in its recent high.
Today’s 4-hour chart shows a broader recovery in prices as the bulls took their stands in the market. After completing the lows at a $1.530 value, the ARBUSD price jumped up to a $1.572 high level above the moving averages.
This bullish correction, on the other hand, indicates a gradual improvement in market sentiment, which might reach the overhead resistance level soon.
Furthermore, more gains are on the way, as evidenced by the stochastic oscillator pointing upwards, indicating an uptrend. With the look of things, the bullish rally might reach the $1.700 high value in no long time in the medium-term time frame.
Place winning Arbitrum trades with us. Get ARB here
Leave a Reply