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Arbitrum Price Forecast: January 5
The Arbitrum price forecast is for the buyers to power through the seeming present bearish pressure to push the price to $2.1200.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $2.1200, $2.4000
Zones of Demand: $1.8170, $1.5930
The Arbitrum market is finding it hard to stabilize above the $1.8170 significant level due to the presence of substantial bearish pressure. The buyers have revived after being knocked out at $2.4000. The $1.5930 demand level was used as a springing board to both halt the dip and kickstart a rally. Good progress was made to help the price rise to $1.9000 but the presence of bearish pressure ensures the price slips back to $1.7400. Buyers will endeavor to push against the tide again towards $2.1200.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum market is grappling with challenges in maintaining stability above the significant level of $1.8170, primarily due to persistent bearish pressure.
Despite a revival in buyer interest after a setback at $2.4000, the market’s ascent to $1.9000 faces resistance, with bearish forces causing a slip back to $1.7400.
The recent rally initiated from the $1.5930 demand level underscores the market’s resilience.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
The Moving Average (MA) period 20 plays a pivotal role in restraining upward movement, prompting price retracements when unable to trade above it. The Elders Force Index (EFI) currently hovers at equilibrium, signaling a tug-of-war between bullish and bearish influences.On the 4-hour timeframe, a reflection of the daily chart reveals a similar scenario. The MA period 20 acts as a formidable resistance, mirroring its impact on the broader time frame.
The 4-hour timeframe EFI, while balanced, exhibits a slight bias toward the downside, aligning with observations on the daily chart. Despite these challenges, bullish momentum is anticipated to prevail, with buyers poised to navigate against the prevailing tide and target the $2.1200 level. In navigating these market dynamics, crypto signals can serve as valuable indicators to guide strategic decisions and optimize trading positions.
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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