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Arbitrum Price Forecast: October 2
The Arbitrum price forecast is for the price to keep thrusting upward after it gets fresh bullish momentum.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $0.9700, $1.1100, $1.1550
Zones of Demand: $0.8500, $0.8000, $0.7200
Arbitrum buyers are finally demonstrating their influence in the market. The coin was able to receive much investment after it dropped to its lowest ever three weeks ago. The coin first made progress by surpassing the 0.8000 critical level. After it stabilized, it rose higher to $0.9700. The market will be looking to expand its influence even beyond $1.1100.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum is making substantial strides in its bullish recovery, thanks to the influence of enthusiastic buyers.
Just three weeks ago, the coin hit its all-time low. Since then, it has attracted significant investment. The coin surged above the critical $0.8000 level, achieved stability, and continued its ascent to a peak of $0.9700.
The market is now poised to extend its recovery, potentially reaching levels beyond $1.1100. Throughout the recovery journey from its lowest point, the Parabolic SAR (Stop and Reverse) dots have consistently transitioned below the candlesticks, signifying a robust bullish trend.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
The daily Relative Strength Index (RSI) indicator has followed an upward trajectory, surpassing the pivotal 50 mark, further indicating the market’s bullish momentum. Examining the 4-hour chart, a prolonged sequence of Parabolic SAR dots below the candlesticks persists, reaffirming the bullish stance.
Meanwhile, the RSI line has ascended and now hovers near the overbought boundary. The current market sentiment is decidedly bullish, with the potential for further upward movement, possibly reaching the $1.1100 level.
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