Arbitrum Price Forecast: May 19
The Arbitrum price forecast is for the market to maintain level ground at $1.1550. Afterward, the price is expected to shoot upward from here.
Arbitrum Long-Term Trend: Bullish (4-hour Chart)
Key Levels:
Zones of supply: $1.2880, $1.3310, $1.4360
Zones of Demand: $1.1910, $1.1550, $1.0620
Arbitrum buyers have taken the step of pushing the price up above the $1.1550 key level using a double-bottom bullish reversal pattern. Bearish pressure still abounds in the market, but the price is holding nicely above that level until it can shoot up again, firmly placing the control with the bulls. ARBUSD will fancy reaching $1.3310.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum buyers are slowly taking back control of the market. The price dipped to $1.0620, but due to a lack of concentration from the bulls, they are now fully alert and slowly regaining control.
The market was pushed up from the low level of $1.0620 using a double-bottom bullish reversal pattern. This has thus far helped the price climb above $1.1550.
The coin holds nicely above the $1.1550 key level to steam the bearish tide before moving upward. Despite falling below the MA period 25 (Moving Average), it remains upbound.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
The MACD (Moving Average Convergence Divergence) lines are hovering about the zero level on an upward inclination. This means the price hangs in the balance, with opposing forces fighting for market control. The MA period 25 remains above the candles on the 1-hour timeframe.
The MACD has plunged below the zero level in the 1-hour timeframe, but it has made a golden cross and is about to begin another rise. Although the price remains in the middle of a tussle. The buyers have taken a step by lifting the price above the strong $1.1550 key level. From here, after a while, they can push higher towards $1.3310.
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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