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Arbitrum Price Forecast: April 15
The Arbitrum price forecast is for the buyers to regroup to push the price back toward the consolidation zone from which it has just broken out.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Resistance Levels: $1.5930, $2.1200, $2.4000
Support Levels: $1.1910, $1.1550, $0.9700,
Arbitrum crashes out of its consolidation zone. The market was locked in consolidation after a major price surge that rose to $2.4000. Immediately the coin was rejected, it dropped below $2.1200 and ranged above the $1.5930 support level. Although ARB/USD price occasionally pierced the consolidation borders, it remained largely between them. Nevertheless, by the beginning of April, a bearish wave hit the market, such that the price crashed more than 40% below the $1.5930 support level.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum has encountered increased volatility following its breakout from a consolidation phase, descending sharply after reaching a peak of $2.4000.
After facing rejection at this high, the coin retreated below $2.1200, mainly hovering between this mark and the $1.5930 support. Despite occasional breaches of the consolidation range, the market primarily stayed within these bounds.
However, a bearish wave in early April led to a significant drop, with the price plummeting by over 40% below the $1.5930 support.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
The MA period 20 (Moving Average) currently lies above the daily candlesticks, indicating the depth of the market’s decline. Concurrently, the EFI (Elders Force Index) has hovered near the equilibrium level and has gradually fallen below zero. Despite this sharp decline to $0.9700, the market is displaying signs of a potential recovery, presenting a notable crypto signal for traders.
On the 4-hour timeframe, the market has risen above the MA period 20, suggesting buyers are actively working to reclaim lost territory. This upward movement is further bolstered by the EFI (Elders Force Index) rebounding above the zero level. Based on these observed trends and crypto signals, ARBUSD is projected to continue its climb toward the $1.4360 level.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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