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Arbitrum Price Forecast: June 14
The Arbitrum price forecast is that the market bulls will wield their influence over the coin from the current level to a much higher price.
Arbitrum Long-Term Trend: Bullish (4-hour Chart)
Key Levels:
Zones of supply: $1.0620, $1.1100, $1.1550
Zones of Demand: $0.9280, $0.9700, $1.0310
The Arbitrum market has been under much pressure from the bears since mid-April. The result is that the price slipped through several key levels until it dropped to a new low of $0.9280. However, this drop could just work in the coin’s favor as investors find the market attractive at that price. As a result, more buyers have been entering the market, which is visible in the current reversal candlesticks on display.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum began its life cycle with a pump after a period of consolidation. The pump took the price to $1.8170. This was the highest the coin rose to before the bears influenced it.
There has since been pressure on the market. This eventually leads to a drop in price to a new low of $0.9280. Currently, the prevailing pressure has weakened significantly, allowing bulls to take control.
The presence of increasing buy-traders in the market becomes evident as the price embarks on a reversal. The MA Cross (Moving Average) on the daily chart has yet to react to the price reversal.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
The EFI (Elders Force Index) indicator has its line deep below the zero level due to the price drop. Nevertheless, the indicator has also reacted to the emerging price reversal with a sharp upturn toward zero. On the 4-hour chart, the EFI has already grown to reach equilibrium.
The MA Cross on the 4-hour timeframe is giving a more encouraging signal to the buy traders as the lines have made an upward cross to signal a definite change in price direction. The bulls are expected to gradually and solidly build the market beyond several key levels to reach $1.3310.
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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