Arbitrum Price Forecast: April 28
The Arbitrum price forecast is for the coin to keep trudging upward after it leverages the support from the $1.3310 demand zone.
Arbitrum Long-Term Trend: Bullish (4-hour chart)
Key Levels:
Zones of supply: $1.5930, $1.8170
Zones of Demand: $1.3310, $1.4360
Arbitrum buyers are now regaining their influence in the market. The price had dropped due to an inability to bypass the strong resistance at the $1.7460–$1.8170 zone. Nevertheless, after the price reached $1.3310, the market plunge halted, and the buyers influenced the coin price again. It is ongoing as the price keeps trudging upward.
Arbitrum Price Forecast: ARB/USD Outlook
The Quant market is gradually rediscovering its bullish touch after about two weeks of a downward move. The coin was able to bulldoze its way upward after a period of consolidation.
A strong barrier at the $1.7460–$1.8170 zone rebuffed the market and subsequently caused it to plummet. The price dropped till it returned to a former resistance level of $1.3310.
The buy-traders are now investing in the market again as it keeps trudging upward. This increase is evident as the RSI (Relative Strength Index) line gradually rises from the oversold border to rise above the 50 mark. o
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
On the 1-hour chart, the candles have bounced off the lower Bollinger Band and have risen to the upper band, stretching it as the price keeps trudging upward. The Bollinger Band wrapped around the candlesticks in the 1-hour timeframe already shows an upward trajectory.
https://www.tradingview.com/x/KEAB9WO7/
On the 1-hour chart, the RSI has equally risen above the 50 mark and stabilizes above that mid-line. If the market holds well above it, it will push even higher to break other resistance levels until it reaches the resistance level at the $1.7460 zone.
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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