Arbitrum Price Forecast: August 8
The ARBUSD price is set for the next bullish momentum after a long dip dump by the bears. The pair is possibly making its way up after hitting the $0.428 low level to signal a pump. In case buyers manage to break up the pattern’s resistance trend line at the $2.256 high value, a possible relief rally may drive the coin market price to the $2.400 upper resistance level and beyond, which indeed will be a turnaround for the coin holders.
Key Levels:
Resistance Levels: $0.600, $0.700, $0.800
Support Levels: $0.400, $0.350, $0.300
ARBUSD Long-term Trend: Bearish (Daily Chart)
Arbitrum price is bearish in a higher time frame. Further, the price is set for the next bullish momentum as it begins to rise below the supply level, indicating that it’s in a bearish market.
The drop in the price by short traders to the $0.428 low value in the last few days has made the ARBUSD price trade below the supply levels in its recent high. Nevertheless, the recent trend will be invalidated as the bulls are set for the next bullish momentum.
The cryptocurrency rebounded from the mentioned support with a bullish candle at the $0.522 value below the supply level, as the daily chart opens today, indicating a genuine reversal that may attempt the $2.256 breakout.
Notably, there is a tendency for the Arbitrum pair to continue its bullish momentum as indicated by the daily stochastic which is pointing up in the oversold region.
Thus, if the support level holds, buyers may drive the price of ARBUSD to a high of $2.400 in the days ahead in its long-term perspective.
ARBUSD Medium-term Trend: Bearish (4H chart)
ARBUSD price is set for the next bullish momentum as indicated by the chart below. The coin price is below the moving average, suggesting a bearish trend in the medium term. 
The bearish pressure at the $0.500 supply level in the past few hours has sustained the coin price below the resistance trend levels in its recent high.
At the press time, the bulls pulled back to a $0.511 resistance level below the EMA-50 shortly after the 4-hourly chart opens today, suggesting that the Arbitrum price is set for the next bullish momentum.
From the look of things, the Arbitrum price might keep pushing up, as we can see a new correction in place, and the $0.828 previous barrier level might be retested soon if more aggression is added to the buying pressure.
Similarly, the price signal pointing upwards indicates that the trend will remain in an uptrend if buyers should intensify their tension in the market and the prices break above the $0.828 resistance trend line, a bullish trend continuation to the overhead resistance of $2.400 is possible soon as the ARBUSD price set for the next bullish momentum in the medium-term outlook.
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