Arbitrum Price Forecast: June 16
The Arbitrum price forecast is for the price to end the week with a bullish setup, which will launch next week.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $1.8170, $1.3310, $1.2880
Zones of Demand: $1.1550, $1.1100, $1.0620
The Arbitrum market has dropped to a lower price level of $0.9280, which looks very attractive to investors given the bullish potential of the coin. The coin signals a price reversal as it displays the hammer candlestick. As the week ends, the market buyers are expected to place themselves in a good setup with which to rally by next week.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum market is recovering from a bearish regime at the $0.9280 demand level. There is potential for a quick price reversal as investors find the market attractive at the current level.
The market is beginning to display bullish reversal candlesticks that will pilot the price up. The hammer and doji candlesticks are currently on display.
It is expected that the price reversal will come into full force by the beginning of next week. The Stochastic Oscillator lines on the daily chart have dropped into an oversold position in anticipation of a rise.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
The MACD (Moving Average Convergence Divergence) lines on the daily chart are reflecting the price dump, with their lines down and below the zero level. Nevertheless, the bearish histogram bars have begun to recede.
The candles have begun to rise off the $0.9280 support level on the 4-hour chart, as well as the indicators. The MACD lines have crossed upward, accompanied by bullish histogram bars. The Stochastic is also approaching the middle line right now.
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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