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Arbitrum (ARBUSD) Price Sets for a Potential Upswing

Johnathon Fox
02/27/2024 | UPDATED ON: 02/27/2024

Arbitrum Price Forecast: February 27
ARBUSD is now set for a potential upswing while making new corrections and facing the positive side. The price tested the multiple resistance zones near $1.88 and we expect a swift increase to follow soon. The coin might jump towards the $2.50 supply level amid renewed buying momentum if the sell traders reduce their tension in the market.

Key Levels
Resistance Levels: $1.650, $1.750, $1.850
Support Levels: $1.250, $1.150, $1.050

ARBUSD Long-term Trend: Bullish (Daily chart)
Despite the interference from buyers, the ARBUSD price is set for a potential upswing while remaining bullish in its long-term view. The coin is currently facing its correctional phase.
Arbitrum (ARBUSD) Price Sets for a Potential Upswing
The high bullish impact on the crypto at the $1.85 high level in the past session has contributed to its bullishness in its recent high.

Today, the crypto price sets for a potential upswing by rising to a $1.89 high level above the supply trend line as the daily chart resumes. Therefore should the bulls increase their swagger in the market, the Arbitrum price is poised to pump up above the key resistance levels around the $2.40 level.

Similarly, further downwards may not likely be possible as the ARBUSD market remains upward on the daily stochastic. The coin is gaining momentum and may hit the $2.50 supply level soon as it sets a potential upswing in its higher time frame.

ARBUSD Medium-term Trend: Bearish (4H chart)
At the moment, the price of ARBUSD is set for a potential upswing while struggling at a critical level to rise. The price is now facing the upside approaching the resistance zone.
Arbitrum (ARBUSD) Price Sets for a Potential Upswing
The bearish pressure at the $1.85 support level in the past few hours has made the coin stay below the supply line in its recent price level.

The bulls are set for a potential upswing and made a corrective rally up to a $1.88 high level below the moving averages shortly after the 4-hour session opened today.

If the bulls should increase their price action, and bullish momentum is sustained far above the $2.17 previous resistance point, further bearish sentiment will be hibernated.

Additionally, the daily stochastic remains in an upward direction; this indicates that the Arbitrum price is set for a potential upswing.

Hence, with an increase in buying forces and the coin buyers managing to break above the $2.17 previous supply trend line, the market participants may witness a new recovery rally and this may reach the $2.50 high mark in the days ahead in its medium-term time frame. This signals a BUY trade and again indicates the best crypto signal in its lower time frame.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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