Arbitrum Price Forecast: December 4
Arbitrum price forecast is for the market to try to break the $1.1100–$1.11550 resistance zone after rebounding off $0.9700.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $1.0310, $1.1100, $1.1550
Zones of Demand: $0.9700, $0.8500, $0.7660
Arbitrum is charging back towards the $1.1100 resistance zone. The coin recently formulated into a double-bottom bullish reversal structure to lift its market from an all-time low position. It was successful, as several levels were bypassed until the price rose to $1.1910. Though the market rose to those levels, the major resistance that slowed down the price was at the $1.1100–$1.11550 zone. Thereafter, the price retraced to $0.9700, where the bulls have re-converged to get the market charging upwards again towards the $1.1100–$1.11550 zone.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum is making a determined push toward the formidable resistance zone at $1.1100. Before now, the coin underwent a noteworthy transformation, adopting a double-bottom bullish reversal structure
The double-bottom structure successfully lifted its market from an all-time low position. The ascent was significant, reaching $1.1910, yet encountered substantial resistance within the $1.1100–$1.11550 zone.
The resistance prompted a retracement to $0.9700. Currently, bullish momentum has reignited as the price rebounds towards the challenging $1.1100–$1.11550 zone.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
Analyzing the daily chart, the Moving Average (MA) Cross is on the verge of an upward crossover, signaling a shift in trajectory following the resurgence from $0.9700. Momentum is visibly accelerating, as depicted on the Momentum chart.
Meanwhile, the 4-hour timeframe reveals multiple upward crosses by the MA Cross, affirming the prevailing market trajectory. Despite its dynamic movement, the Momentum indicator exhibits a consistent upward trend. The outlook for ARBUSD suggests a potential breakthrough in the $1.1100–$1.11550 zone, paving the way for further upward movement.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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