Arbitrum Price Forecast: April 14
The Arbitrum price forecast is for the market buyers to keep pushing the price up after they set the market free from bearish pressure.
Arbitrum Long-Term Trend: Bullish (4-hour Chart)
Key Levels:
Zones of supply: $1.5640, $1.8000
Zones of Demand: $1.3310, $1.1550
Arbitrum buyers have finally earned themselves the big break they were pushing for. Earlier, the coin could not get a direct pathway to rising through a double bottom formation, but after ranging through a channel, the buyers had significantly strengthened themselves and were able to break out and go beyond $1.5460 to make a new all-time high.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum buyers immediately set about putting the market in a bullish frame through a double-bottom bullish structure. This worked till it got to the last stroke where the price was to surge up.
The bears took advantage of the weakness of the buyers by acting very actively to pin the price in a channel below a strong resistance level. This led to a brief period of price consolidation.
And now, the bulls have earned their big break as the price surges upward to complete the last stroke of its formation. Parabolic SAR (Stop and Reverse) has now settled below the daily candles after the surge.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
The RSI (Relative Strength Index) lines have always been on an uptrend by making consistent higher lows, despite being in consolidation through the channel. The price has surged, and the RSI line has risen highly into the overbought region on the daily and 4-hour charts.
The 4-hour chart elaborates on how the market fared while trying to break out. The support level at $1.1550 remained firm and was the launching pad for the price. A little wobbliness was encountered at the $1.3310 resistance level as Arbitrum violated the level to rise above $1.5460 to record a new all-time high. The bulls want to keep pushing to $1.8000.
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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