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Arbitrum Price Forecast: April 8
The Arbitrum price forecast for the market is uncertain as the bulls and bears continue to tussle for dominance.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $2.1200, $1.5930
Zones of Demand: $1.4360, $1.1910
The Arbitrum market is in a position of make or break at the $1.4360 support level. Previously, the market has been very volatile and ranged wildly between the $2.1200 resistance level and the $1.5930 demand level. However, in recent times, bearish pressure has weighed on the market so much that it dropped below the demand level to $1.4360. Previously when the coin fell to this point, it rebounded immediately, but this time around, today marks the 7th day that Arbitrum has been lingering at this level. So while bearish pressure persists, the bulls are persevering, making it a make-or-break point for the market.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum market is at a pivotal juncture, teetering between a potential breakout or breakdown at the $1.4360 support level.
Historically, the market has exhibited high volatility, oscillating between the $2.1200 resistance level and the $1.5930 demand level. However, recent bearish pressures have intensified, pushing the market below the demand level to the critical $1.4360 mark.
While Arbitrum has previously rebounded swiftly from this level, it has now spent seven consecutive days hovering at this pivotal point. This persistence from both bulls and bears makes it a crucial make-or-break moment for the market.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
Since descending below the $1.5930 significant level to establish new support, the Parabolic SAR (Stop and Reverse) dots have consistently remained above the daily candlesticks, signalling prevailing bearish pressures. Concurrently, the Relative Strength Index (RSI) line, after dipping into the bearish half of its chart, is now moving laterally above the oversold border. This indicates a bullish effort to regain market control from the prevailing sellers.
On the shorter timeframe, there is a noticeable increase in bullish activity. The Parabolic SAR dots have maintained a sustained position below the candles, suggesting a potential price recovery from the $1.4360 support level. The RSI line is oscillating between the 50-mark and just above the oversold border, signalling increasing buyer strength. While buyers seem to be gaining ground in the short term, the question remains: can they sustain this momentum across all timeframes to prevent a further descent to lower price levels? Crypto signals indicate a critical period ahead for Arbitrum.
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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