Arbitrum Price Forecast: ARBUSD Bulls Surrender Amid Relentless Selling Pressure

Azeez Mustapha

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Arbitrum Price Forecast – June 24th

The Arbitrum price forecast suggests that buyers will fail to defend the $0.8000 key level, with sellers eyeing a move down to the $0.7430 area.

Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Supply Zones: $0.1560, $0.1220
Demand Zones: $0.9960, $0.7650
Arbitrum Price Forecast: ARBUSD Bulls Surrender Amid Relentless Selling PressureThe Arbitrum market has witnessed buyers losing the battle against the prevailing selling sentiment. After attempting to hold their ground around the crucial $0.8000 key level, the buyers have lost the will to fight. This week, the crypto price has kicked off with a sell intention, aiming to breach the $0.7430 price zone. Since last month, sellers have been extending their strength, pushing through key areas.

Arbitrum Price Forecast: ARBUSD Outlook
In May, buyers targeted a breakthrough across the $1.2720 significant level but began to pull back after facing resistance. Following a ranging phase, the crypto price yielded strongly, allowing sellers to push further south.

The bears have successfully penetrated through the $1.0780 key area. As the month comes to an end, they are targeting lower levels, aiming for the $0.7430 key area.

The Parabolic SAR (Stop and Reverse) indicator shows that sellers still hold strong influence, with bearish strength remaining robust despite recent setbacks.

ARBUSD Medium Term Trend: Bearish (4-hour Chart)
The short-term timeframe still carries a bearish signature, as sellers plan to pull the price lower. The MACD (Moving Average Convergence Divergence) and the Parabolic SAR indicators continue their downward trend, further reinforcing the bearish sentiment.
Arbitrum Price Forecast: ARBUSD Bulls Surrender Amid Relentless Selling PressureSellers are poised to launch an attack around the $0.7430 significant level. A successful move by them can ignite more chances for a bearish trend continuation. For traders looking to capitalize on these movements, utilizing the best crypto signals can provide valuable insights and help navigate this volatile market effectively.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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