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Arbitrum Price Forecast: November 13
The Arbitrum price forecast is for the coin to stabilize its market above the $1.1550 key level after a strong bullish reversal.
Arbitrum Long-Term Trend: Bullish (4-hours Chart)
Key Levels:
Zones of supply: $1.2880, $1.1910
Zones of Demand: $1.1550, $1.1100
ARBUSD has completed a bullish price reversal using the double-bottom bullish formation. The price rose off the $0.7660 demand level and broke the neckline of $0.9700. The coin drilled through the $1.1100 resistance successfully, rising above $1.1550. Currently, the bullish momentum has been exhausted, but Arbitrum wants to stabilize its price at $1.1550.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum is trying to maintain a position above $1.1550 after completing a bullish price reversal through the double-bottom formation.
Originating from the $0.7660 demand level, the coin successfully breached the $0.9700 neckline and surpassed the $1.1100 resistance, reaching above $1.1550.
While the initial bullish momentum has waned, Arbitrum seeks to establish stability at this crucial level. The daily chart displays a succession of Parabolic SAR dots extending beneath the candlesticks until it surpassed $1.1550.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
A positive shift is evident as the price strives to stabilize at this level, accompanied by MACD (Moving Average Convergence Divergence) lines rising significantly above the zero level, indicating robust bullish strength. On the 4-hour chart, the Parabolic SAR dots are ascending, now positioned above the candlesticks, signaling a decline in bullish momentum.
Although the MACD lines persist above zero, they exhibit undulating behavior with alternating bullish and bearish histogram bars. This suggests a nuanced market sentiment with a potential interplay between bullish and bearish forces.
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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