Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Arbitrum Price Forecast: October 23
The Arbitrum price forecast is that the market will navigate past the $0.8500 significant level, allowing for more price increases.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $0.9280, $0.8500
Zones of Demand: $0.8000, $0.7200
The Arbitrum market has thus far been dominated by sellers since the beginning of October. Since then, there have been few initiatives from the bulls, up until the price dropped to $0.7660. At this point, the bears eased their activities, allowing the buyers an opportunity to influence the market. In the space of 4 days, the coin rose by 15% and beyond the crucial $0.8500 level. However, the price has been pinned back below $0.8500. Breaking free of this level will put the market on course for higher price levels.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum has predominantly witnessed seller dominance since the onset of October. It wasn’t until the price reached $0.7660 that a shift occurred.
This shift granted buyers an opportunity to influence the market after the bears temporarily eased their grip. Within just four days, the coin surged by 15%, surpassing the pivotal $0.8500 level.
Presently, the price finds itself pinned below $0.8500, and breaking free from this level is crucial for the market to set its course toward higher price levels.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
On the daily chart, the EMA period 35 (Exponential Moving Average) is positioned just above the current trading level of the market, signifying the ongoing struggle to surpass $0.8500. Meanwhile, the daily RSI (Relative Strength Index) power line has rebounded upward, extending beyond the 50 mark, but the question remains whether it can maintain this position.
The 4-hour chart clearly illustrates a price pullback. However, the EMA period 25 provides underlying support, and the RSI line, after entering the overbought region, is now fluctuating around the oversold border. The market’s fate hinges on its ability to overcome the $0.8500 level.
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.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
