Arbitrum Price Forecast: June 27
ARBUSD price now reaches its buying time which is a great opportunity for coin traders. The cryptocurrency market is experiencing an unexpected surge in buying pressure, triggered by the growing interest of long traders.
The coin price which is negotiating the upper resistance level is currently recovering and also remains firm above the supply levels. The cryptocurrency might remain in that direction if the bulls could add more efforts to their buying motives and the price closes above the $1.258 supply level, the coin might further extend to a $2.000 upper resistance level and beyond. Thus, an opportunity to buy for the market participants.
Resistance Levels: $1.650, $1.750, $1.850
Support Levels: $1.250, $1.150, $1.100
ARBUSD Long-term Trend: Bullish (4H chart)
The ARBUSD pair at the moment is trading in the bullish trend market in the long-term outlook. The price currently trades above the resistance trend levels and moves toward the upper resistance area. This breakout triggers a smooth bull cycle pattern, which in theory, should lead the prices to an overhead trend line.
The sustained bullish pressure pushed the currency pair up to the $1.140 supply level during yesterday’s session and sustained it. This has made it capable for the coin to remain firm in an uptrend in its recent high.
The buy traders made a strong push to the $1.155 supply value above the resistance levels as the 4-hourly chart opens today which indicates an intraday growth and more gains for buyers.
This has injected a fresh wave of optimism into the crypto space, fueling expectations for increased market adoption and potential long-term value appreciation.
Therefore, if the bulls should increase their tension in the market, the price tendency will move above the key levels to retest its previous swing high of $1.258 high value.
Next, the underlying sentiment suggests an uptrend continuation in the coming days as indicated by the daily stochastic.
It is expected of buyers to push the price of Arbitrum further up to a significant level and in this case, the target might be the$2.000 upper resistance level in the days ahead in its higher time frame.
ARBUSD Medium-term Trend: Bullish (1H chart)
ARBUSD is also showing a more bullish impact in its medium-term outlook. The bulls are having the market at their disposal at the moment. This looks nice for the buy traders and signifies a buy signal.
The coin has been making higher highs and higher lows in previous actions; this has made it possible for the price to maintain an uptrend in its recent price level.
The bulls made an aggressive move up to the $1.156 resistance level above the two EMAs shortly after the 1-hourly chart opened today. This however makes it capable for the coin to rise further.
As a result, the coin is poised for strong growth, presenting lucrative investment opportunities for interested market participants.
Hence, should the bulls increase their buying motives, the previous high of $1.180 value might be retested soon, leading to an intraday gain for the coin buyers.
Hence, the daily signal indicates an uptrend, thus trading above the moving average levels will also enable the market value of Arbitrum to keep pushing up. Therefore, if the bulls should add more aggression to their activities in the market; the $2.000 upper resistance level might be reached in the coming days in its medium-term time frame.
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Arbitrum Price Forecast: June 27