Arbitrum Price Forecast: July 3
The Arbitrum price forecast is for the likely drop of the market back below $1.1550. This is due to the immense pressure on the sellers at this time.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $1.3310, $1.1550, $1.0620
Zones of Demand: $0.9700, $0.9280, $0.8500
The $1.1550 to $1.1100 key level is a crucial zone in the market. The bulls showed up at this point in the market. The bulls will eventually leverage the support to push the price higher. However, Arbitrum has dropped below that level, even plunging below it in mid-June. Nevertheless, the buyers have managed to heave the trading level back above $1.1550, but the coin is struggling to hold above it.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum recently plunged to a new record low, dropping past the $1.1550–$1.1100 key zone on June 10th. The bulls have nonetheless jumped on the market and begun influencing it.
So far, the bulls have tried to ride the price up and above the $1.1550 resistance level. This is a good move from the Bulls, but they need to hold above the same level.
Currently, the market is struggling to hold above the $1.1550 key level due to the prevailing pressure from sellers. The MA Cross (Moving Average) has crossed upward as the price rises above $1.1550.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
As the coin climbs above the $1.1550 key level, the MACD (Moving Average Convergence Divergence) lines have risen steadily above the zero level. Strong bullish histogram bars are visible alongside.
On the 4-hour chart, the MACD lines have remained above the zero level. The lines had been dropping but then bounced upward on reaching the zero level. This shows the struggle of the buyers to keep the coin above $1.1550, and the price could yet drop back to $0.9700.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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