Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Arbitrum Price Forecast: November 20
Arbitrum price forecast is for another retest at the $1.550–$1.1100 zone after the initial failure to hold above it.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $1.1100, $1.1550, $1.1910
Zones of Demand: $1.0310, $0.9700, $0.7660
Arbitrum was able to spring upward from an all-time low position at $0.7660 using a double-bottom bullish reversal structure. This propelled the market high for a 60% price increase beyond the $1.1550–$1.1100 resistance zone level. At this point, the bulls were exhausted and were unable to even stabilize the price above the market zone. This has seen a plunge back to $1.0310 before the bulls could revive to stop the drop. Nevertheless, it is expected that the coin will immediately try to test the resistance again to breach it a second time.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum market has failed to maintain its position above the significant $1.1550 mark.
After a significant rebound from its all-time low at $0.7660, driven by a double-bottom bullish reversal pattern, Arbitrum experienced a notable 60% surge, surpassing the $1.1550–$1.1100 resistance zone.
However, the bullish momentum waned, resulting in a pullback to $1.0310, where the bulls are trying to attempt a recovery.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
Currently, the coin is poised to retest the resistance zone, aiming for a successful breach. On the daily chart, the Moving Average (MA) Cross is showing signs of a downward crossover in response to the recent price dip. Concurrently, the Elders Force Index (EFI), which had risen above zero a month ago, has now fallen below it.
In the 4-hour chart, multiple downward crossovers of the MA Cross confirm a short-term downtrend. Despite the dip to $1.0310, the market has stabilized, trending sideways, with the EFI line recovering towards a positive value. Anticipated upward movement suggests a retest of the key $1.1550–$1.1100 zone.
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.
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
